UK Prime Minister unveils £29.5bn investment boost to drive growth

The funding is expected to support sectors like tech, life sciences, renewables, housing and infrastructure

Prime Minister Rishi Sunak has unveiled an investment of £29.5 billion at the Global Investment Summit.

This surpasses the amount raised at the 2021 summit, indicating an influx of capital into the UK’s innovative sectors, including tech, life sciences, renewables, housing and infrastructure.

The investments are poised to generate thousands of jobs, aligning with the government’s commitment to economic growth and job creation.

More than 200 top CEOs and investors participated in the summit at Hampton Court Palace.

The strategic allocation of funds, including a £7 billion commitment from Iberdrola to the renewables sector and £10 billion from IFM Investors for large scale infrastructure and energy transition projects.

In addition, Aira Group has pledged to invest £300 million in clean energy technologies, particularly in heat pumps.

The Prime Minister Rishi Sunak said: “Today’s investments, worth more than £29 billion, will create thousands of new jobs and are a huge vote of confidence in the future of the UK economy.

“Global CEOs are right to back Britain – we are making this the best place in the world to invest and do business.”

Energy Security Secretary Claire Coutinho said: “The UK is a world leader in renewable energy and green industries. We have attracted £200bn in low carbon investment since 2010, with another £100bn expected by 2030, as we lead the second industrial revolution.”

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