Sir Keir Starmer will present Labour’s proposal to global investment giants at a conference in early October, as his new government seeks to attract tens of billions of pounds of foreign capital.
Sky News has learned that ministers have set a date for or around October 8 for a Global Investment Summit, which would fulfill the Labor Party’s campaign promise to organize the event within 100 days of coming to power.
Sources said the date was expected to be finalized this month, with invitations being issued soon after.
Latest Money:
Cheapest supermarket rankings now include loyalty pricing
Labor is said to be hopeful that its inaugural investment summit could surpass the two held by Conservative governments in recent years, the most recent of which – last November – revealed £29.5 billion of investment in new projects and capital.
Among those who attended previous summits were Blackstone chef Stephen Schwarzman, Goldman Sachs boss David Solomon, his JP Morgan Chase counterpart Jamie Dimon and Ignacio Galan, chairman of Iberdrola, the Spanish owner of Scottish Power.
The new business secretary, Jonathan Reynolds, told private sector leaders on Tuesday that he would aim to be accessible to them and be unabashedly pro-business.
Business Secretary Jonathan Reynolds
Speaking remotely to more than 100 bosses, including from companies including Heathrow Airport, BT Group, BP and the CBI, Reynolds said his department would soon launch an email address where companies and investors could contact him. with ideas and concerns.
He also said that he wants companies to obtain a financial return on their investments, a sentiment well received by those who participated in the conference call.
According to two people who attended, Mr. Reynolds promised that the Labor Party would focus on four business priorities: pursuing a mission-driven industrial strategy; support SMEs; defend UK exports and redefine trade relationships; and make the work pay off.
Read more on Sky News
Crisis-hit Thames Water reveals when it could run out of cash
Card spending falls for the ‘first time in three years’
This, he said, would provide an economy that works for everyone.
The Department of Business and Commerce declined to comment on the date of the Global Labor Investment Summit.
This story originally appeared on News.sky.com read the full story
