Today we hear about the billions of pounds that private companies will be committing to invest in the UK. The International Investment Summit was pretty low key on the PR front until a gaff by the Transport Secretary nearly halted a billion-pound investment from DP World.
The government website today suggests plans will be revealed for billions of major investment deals in AI, life sciences and infrastructure.
We are eagerly waiting for the announcements, and hope that it is received with more enthusiasm than the Release of the “workers’ rights legislation” which Unite Union said had “more holes than Swiss cheese” in the approach to Zero hours contracts.
This new “workers’ rights” bill which covers 38 new measures including minimum service levels, hire and fire, zero-hours contracts, unfair dismissal changes to take effect from the first day of employment will be reviewed through 2025 before coming into effect in 2026.
During the build up to the investment summit we have heard of the 24 billion available for clean energy projects, the DP World funding and the formation of an Office for Investment which sounds like a way to shortcut the existing bureaucracy. (If you have ever had to submit a procurement tender, you will understand that can be a huge investment with no certainty of a return.)
The governments website says the Prime Minister will say:
“Where it is stopping us building the homes, the data centres, warehouses, grid connectors, roads, trainlines, you name it then mark my words – we will get rid of it.
“We will rip out the bureaucracy that blocks investment and we will make sure that every regulator in this country take growth as seriously as this room does.”
That is likely to reflect the decades it has taken to get Sizewell C approval and the Scottish Power Renewables planning.
The event will obviously have huge headlines for the news channels and may provide a lift for a flagging consumer confidence index. The timing is right for the next budget too – I expect there will be a good news story related to this summit that will be released on or about the 30th October 😊.
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