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”.
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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.
