Labour is gearing up for a high-stakes Global Investment Summit in early October, aiming to attract substantial foreign investments.
- The summit aligns with Labour’s 100-day pledge since taking office to boost economic growth.
- There is a high target to surpass the £29.5 billion investments from last year’s Conservative-led summit.
- Key business figures and major companies are expected to attend the event.
- A pro-enterprise approach and accessibility to private sector leaders are central to Labour’s strategy.
The Global Investment Summit, anticipated around 8 October, reflects Labour’s commitment to scheduling the event within 100 days of assuming office. The exact date will soon be confirmed, with invitations to follow.
Labour aims for the summit to exceed the £29.5 billion in investments announced at the previous Global Investment Summit under Conservative leadership last November. Prominent figures from past summits include Blackstone CEO Stephen Schwarzman, Goldman Sachs CEO David Solomon, JP Morgan Chase CEO Jamie Dimon, and Ignacio Galan, chairman of Iberdrola.
Jonathan Reynolds, the new Business Secretary, has been proactive in reaching out to private sector leaders, emphasising Labour’s dedication to accessibility and a pro-enterprise approach. Speaking to over 100 executives from major companies such as Heathrow Airport, BT Group, BP, and the CBI, Reynolds announced the launch of a dedicated email address for businesses and investors to share ideas and concerns.
Reynolds highlighted four key business priorities: a mission-driven industrial strategy, support for SMEs, championing UK exports and trade relations, and ensuring fair wages. These measures are intended to foster a thriving economy accessible to all stakeholders.
The Department for Business and Trade has thus far declined to comment on the precise date of the summit.
Labour’s upcoming Global Investment Summit aims to draw significant foreign capital, signifying a major step in their strategic economic initiatives.
