LONDON: The UK government is hosting international business leaders on Monday to try to get Britain some much-needed investment. However, the buildup has been chaotic, and it has been reported that a major company has threatened to cancel a project.
The new Labour government’s leader, Keir Starmer, hopes that the International Investment Summit in London will demonstrate that the UK is “the best place in the world to do business.”
After winning the general election with an overwhelming majority, Starmer has only been in power for three months.
However, he is as of now on the back foot, with a YouGov survey showing just 18% of Britons endorse his administration’s record to date.
Work considers Monday’s occasion to be a potential chance to show its favorable to business plan and to balance out the economy following 14 years of turbulent Moderate rule and England’s takeoff from the European Association.
Starmer is supposed to report billions of pounds in speculations.
He has already unveiled green energy projects worth £24 billion (31.4% of the total), including projects worth £12 billion by Spanish powerhouse Iberdrola and £8 billion by Danish company Orsted.
However, when UK media reported that P&O Ferries’ anticipated announcement of a £1 billion port expansion was in jeopardy, it hurt his efforts to entice investors.
Following a joint press release in which Transport Minister Louise Haigh and Deputy Prime Minister Angela Rayner referred to P&O’s employment practices as “unscrupulous” and “exploitative,” this occurred.
The chairman of P&O owner DP World, Sultan Ahmed bin Sulayem, then threatened not to attend the investment summit.
The Times reported on Saturday that bin Sulayem would still participate in talks with the UK government and that an announcement regarding the P&O investment was still anticipated.
