The UK has unveiled a raft of tech tycoons, private equity leaders and bank bosses who will speak at a summit as the Labour government bids to spur inward investment.
Former Alphabet CEO Eric Schmidt will speak with Prime Minister Keir Starmer, the headline act at an event that will also feature executives from Brookfield Asset Management, Barclays and HSBC Holdings. The summit will follow the country’s first Council of the Nations and Regions meeting in Scotland on Friday, where leaders will discuss how to deliver investment and growth.
The UK has been a laggard among Group of Seven nations, with foreign direct of investment in decline since the Covid-19 pandemic. That has prompted a push by the new Labour government to attract more capital as it seeks to boost growth to fund investment in public services.
“I’m determined to bring forward a new era of stability, trust, and partnership with businesses, investors, devolved governments, and local leaders to boost the economy and restore the UK’s reputation one of the best places in the world to do business,” Starmer said in a statement on Saturday.
The council of nations and regions will bring together the leaders of the UK’s devolved administrations as well as regional mayors from across England. It’s set to take place in Scotland three days before the investment summit, which the political leaders are also expected to attend.
Starmer will open the summit by discussing artificial intelligence with Schmidt, who said they want to drive investment “to ensure the UK stays at the forefront of these technological breakthroughs”.
See also: St. James’s Place to shutter GBP1.8 bil UK property funds
The event, held in central London, will also hear from Alphabet president Ruth Porat, Wayve CEO Alex Kendall and Brookfield’s chief Bruce Flatt, according to the statement. Barclays, HSBC and Lloyds Banking Group have signed up as sponsors, alongside M&G and Octopus Energy.
