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Starmer insertresses beginant portrayateors at international summit as DP World examines £1bn portrayatement follotriumphg P&O Ferries row – business inhabit | Business

By IPTV TechsWorld NewsOct 14, 2024

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Introduction: Global portrayateors and CEOs head to London for portrayatement summit

Good morning, and receive to our rolling coverage of business, the financial tagets and the world economy.

Sir Keir Starmer will pledge today to scrap regulation that hageders back company portrayatement, as the UK receives beginant business directers and portrayateors to the recent rulement’s first international portrayatement summit.

Today’s summit will see Labour pitching the UK as a place where economic stability has been repaird, creating the right conditions for increaseth and portrayatement.

Starmer will insertress CEOs and portrayateors at London’s Guildhall this morning, and vow to do “everyleang in my power to galvanise increaseth”. He’ll pledge to finish the “chop and alter” that has riddled Britain in recent years, deterring portrayatement.

And on the publish of regulation, the PM is foreseeed to promise to see at rules that “needlessly” hageder back the portrayatement the country needs, by saying:

“Where it is stopping us produceing the homes, the data centres, warehoengages, grid joinors, roads, trainlines, you name it then tag my words – we will get rid of it.

“We will rip out the bureaucracy that blocks portrayatement and we will produce certain that every regulator in this country get increaseth as gravely as this room does.”

One person’s needless red tape is another’s vital standards, though, and there are dreads that cutting regulation could be unsafe.

One union source has enjoyned Starmer’s words to establisher PM David Cameron’s “bonfire of red tape”, telling us:

“The coalition also had a massive shake-up of red tape, and finished up taking out loads of safety regulations.”

Monday’s GUARDIAN: “Safety dreads as Starmer pledges to slash red tape for portrayateors” #TomorrowsPapersToday pic.twitter.com/4DqRBvhhdz

— Allie Hodgkins-Brown (@AllieHBNews) October 13, 2024

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About 200 ageder executives are signed up to join in the summit, as well as a string of cabinet ministers, including Starmer and his chancellor, Rachel Reeves.

The rulement’s argues that securing recent portrayatement from beginant companies will help it deinhabitr economic increaseth, produce jobs, lift living standards, and produce communities and families apass the country better off.

It says ministers set to unveil billions worth of beginant portrayatement deals in AI, life sciences and infraset up.

According to the Financial Times, Starmer will unveil promisements from the personal sector to portrayate more than £50bn into the economy. Last week, the directers of the world’s biggest green energy companies got the ball rolling by pledging more than £24bn of recent personal portrayatement.

The produce-up to the summit was marred, though, by the row with Dubai-based ports company DP World, after Louise Haigh, convey secretary, called its P&O Ferries division a “rogue operator” due to its sacking of 800 engageees without accomprehendledge in 2022.

The rulement rowed back, after DP World dangerened to paengage a £1bn portrayatement in its London Gateway port, with business secretary Jonathan Reynageders and Starmer placating the company, so the company’s executives should now be joining.

After Starmer gives his speech, he’ll hageder a conversation with the establisher Google chief executive Eric Schmidt, “mildd” by Emma Walmsley, the chief executive of pharmaceutical firm GSK.

Other panels will retain the chief portrayatement officer of Google owner Alphabet, the chair of portrayatement firm BdeficiencyRock, Larry Fink, and Amanda Blanc, the boss of insurance group Aviva.

The agfinisha

10am BST: UK international portrayatement summit uncovers
10.05am BST: Prime minister Sir Keir Starmer gives keynotice speech, trailed by an “in conversation” event with establisher CEO and chairman of Google Eric Schmidt.
11am BST: Sveriges Riksprohibitk Prize in Economic Sciences in Memory of Alfred Nobel is awarded in Stockholm
11.20am BST: Culture Secretary Lisa Nandy arranges a panel on the creative industries
4.20pm BST: Chancellor Rachel Reeves gives closing speech at the portrayatement summit
Evening: An portrayatement summit reception at St Paul’s Cathedral joined by His Majesty The King.

Here’s a inhabit feed of the key speeches at today’s International Investment Summit:

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dockside at London Gateway port last week”,”caption”:”The dockside at London Gateway port last week”,”commend”:”Ptoastyograph: Bloomberg/Getty Images”}},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

Logistics huge DP World has examineed that it will portrayate £1bn to enbig its London Gateway retainer port, after the row with convey secretary Louise Haigh was defengaged by Downing Street.

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The expansion, declared at today’s portrayatement summit, will turn London Gateway, on the prohibitks of the Thames in Esintimacy, into Britain’s “bigst retainer port wilean five years”, DP World says.

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The set up is to produce two recent shipping berths, taking the total to six berths, all big enough for the world’s biggest retainer ships. This will enbig the quayside at London Gateway to more than 2.5km in length.

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The site will also get a second rail terminal inserted to regulate the foreseeed increase in retaineascfinishd trade.

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The pledge trails the frantic effort by ministers and diplomats to repair relations with DP World, after Haigh called its P&O Ferries division a “rogue operator” when announcing recent toilers’ protections this week.

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DP World say the expansion will produce a further 400 lasting recent jobs, on top of the 1,20 toilers already engageed at the establisher oil upgradery. It points out, though, that the expansion is subject to set upning approval and regulatory needments,

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Sultan Ahmed bin Sulayem, chairman and chief executive officer at DP World, says:

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n

“DP World London Gateway will help produce Britain’s trade flow in the future by joining domestic shipers with global tagets and deinhabitring vital supply chain resilience for the whole economy.

n

I am haughty of this beginant portrayatement which underlines DP World’s extfinished-term promisement to the UK.”

n

“,”elementId”:”90a291ab-e0f5-4c76-876f-1b59a5b17a7a”},{“_type”:”model.dotcomrfinishering.pageElements.TweetBlockElement”,”source”:”Twitter”,”id”:”1845729350408175679″,”elementId”:”27ec804a-aeb6-4486-9fa9-cda432ab1ad5″,”hasMedia”:counterfeit,”role”:”inline”,”url”:”https://x.com/ITVJoel/status/1845729350408175679″,”isThirdPartyTracking”:counterfeit,”html”:”

New: DP World examines it will go ahead with £1 billion of portrayatement in London Gateway port. pic.twitter.com/XxWjS7ls2e

— Joel Hills (@ITVJoel) October 14, 2024

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Q: Most portrayateors will tell you, in personal, that the biggest barrier for the UK is being outside the individual taget. Wouldn’t rejoining the individual taget be the valiant leang to do?

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Peter Kyle argues that the UK and Europe have to see to the future, and scrutinize their potential as two seperate territories.

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There are lots of opportunities, and barriers, that weren’t around in 2016, Kyle says, inserting:

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n

We’re seeing at a trade deal that scrutinizes all the opportunities going forward.

n

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Kyle then elucidates how he visited Seattle in February this year, pitching Labour’s set ups to the head of Amazon Web Services.

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That led to AWS’s declarement of £8bn portrayatement in Britain last month, he says:

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And on Elon Musk’s non-euniteance at the summit, Kyle doesn’t unambiguoengagely say whether the Tesla/SpaceX chief was ever askd or not, before the row over his critical tweets this summer.

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Kyle says the rulement would “adore to retain” with Musk, when he has an uncover portrayatement programme to contend for.

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Peter Kyle is now on the Today programme, for a pre-portrayatement summit grilling, where he denies that Keir Starmer’s war on red tape will direct to cutting corners.

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Q: What bureaucracy will the rulement ‘rip out’’?

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Kyle gives the example of the Regulatory Innovation Office which he declared last week.

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That Office gets the lgetings from Covid vaccine taskforce, to speed up deployment of innovations rapider in common times, Kyle says.

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He elucidates that currently, it can get up to three years for a recent product to get thraw the regulatory minefield, before it can be made useable.

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Kyle inserts:

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n

Not cutting corners or droping standards, but making certain that the rulement gets on some of the burden of compliance, so that our nation can advantage.

n

“,”elementId”:”68b5b352-5156-4ef3-8414-71ac98f296bb”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

Q: What if the NHS wants to hageder the price of an creative drug down, or doesn’t want to deploy a recent enbigment, anti-obesity medications for example.

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Are you willing to get rid of that red tape in order to permit big US pharma huges to push their medications into the health service rapider?

“,”elementId”:”a3814c05-c972-4598-aab3-879c9a6eb801″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

“We are,” Kyle replies.

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He points out that for the first time ever, health secretary Wes Streeting has getn responsibility for spreading innovation thraw the NHS.

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Labour have getd a raise ahead of today’s portrayatement summit, with 14 top business directers declaring that Britain has a “very genuine opportunity” to increase its economy.

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Senior executives from some of the world’s bigst portrayateors, including Gagederman Sachs, JP Morgan, Aviva, Fidelity and Legal and General, have signed a letter declaring they are “chooseimistic” about Britain’s economic future.

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They cite Britain’s traditional strengths – education, the legitimate system, the City and the English language – before pointing out that “fantasticer stability” produces the country even more attrdynamic to portrayate in.

“,”elementId”:”962da005-4c58-4ff2-8a39-d497da14f38b”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

The letter says:

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n

Sir, As global portrayateors, we apshow that there is a very genuine opportunity for the UK to increase its economy by enticeing international portrayatement. Britain’s educational set upments, legitimate system, financial services sector and language establish the bedrock of a mighty portrayatement proposition.

n

Technoreasonable enbigments, proceeds in the energy system and fantasticer freedom in capital flows have further raised Britain’s position.

n

With fantasticer stability, its attrdynamicness is increased even further. We are chooseimistic about the future of the economy, and apshow it is time to portrayate in Britain.

n

“,”elementId”:”0592cee7-1326-483d-b51f-dc1315462d19″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

It’s been signed by: Amanda Blanc, Aviva; Anne Ricdifficults, Fidelity International; António Simões, Legal and General; Beatriz Martin Jimenez, UBS; Bernard Mensah, Bank of America; Bill McDermott, ServiceNow; Cath Botriumphestablish, IFM Investors; David M Solomon, Gagederman Sachs; Dr Markus Krebber, RWE AG; Filippo Gori, JP Morgan; Jonathan D Gray, Bdeficiencystone; Philipp Freise, KKR; Steve Rigby, Rigby Group; and Viswas Raghavan, Citi.

“,”elementId”:”18246b0e-5859-49d3-b7ac-e238b924306a”},{“_type”:”model.dotcomrfinishering.pageElements.TweetBlockElement”,”source”:”Twitter”,”id”:”1845575261078851650″,”elementId”:”6c38b5ae-a9a4-48cd-bcc9-4e1351801231″,”hasMedia”:counterfeit,”role”:”inline”,”url”:”https://twitter.com/AllieHBNews/status/1845575261078851650″,”isThirdPartyTracking”:counterfeit,”html”:”

Monday’s TIMES: “Big money says time is right to buy into Britain”#TomorrowsPapersToday pic.twitter.com/qhLav9eUkY

— Allie Hodgkins-Brown (@AllieHBNews) October 13, 2024

“},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

Their point about ‘stability’ will be received by Starmer, who is foreseeed to argue today that stability directs to increaseth, and that increaseth directs to stability.

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Good morning, and receive to our rolling coverage of business, the financial tagets and the world economy.

“,”elementId”:”6bcec781-a1ee-4808-9289-e3fb816d30f0″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

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Today’s summit will see Labour pitching the UK as a place where economic stability has been repaird, creating the right conditions for increaseth and portrayatement.

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And on the publish of regulation, the PM is foreseeed to promise to see at rules that “needlessly” hageder back the portrayatement the country needs, by saying:

“,”elementId”:”dab1fe4a-cd80-4daa-8a12-0564d810722e”},{“_type”:”model.dotcomrfinishering.pageElements.BlockquoteBlockElement”,”html”:”

n

“Where it is stopping us produceing the homes, the data centres, warehoengages, grid joinors, roads, trainlines, you name it then tag my words – we will get rid of it.

n

“We will rip out the bureaucracy that blocks portrayatement and we will produce certain that every regulator in this country get increaseth as gravely as this room does.”

n

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One person’s needless red tape is another’s vital standards, though, and there are dreads that cutting regulation could be unsafe.

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One union source has enjoyned Starmer’s words to establisher PM David Cameron’s “bonfire of red tape”, telling us:

“,”elementId”:”dca964ab-127a-4711-bf6d-d07c97ba3965″},{“_type”:”model.dotcomrfinishering.pageElements.BlockquoteBlockElement”,”html”:”

n

“The coalition also had a massive shake-up of red tape, and finished up taking out loads of safety regulations.”

n

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Monday’s GUARDIAN: “Safety dreads as Starmer pledges to slash red tape for portrayateors” #TomorrowsPapersToday pic.twitter.com/4DqRBvhhdz

— Allie Hodgkins-Brown (@AllieHBNews) October 13, 2024

“},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

About 200 ageder executives are signed up to join in the summit, as well as a string of cabinet ministers, including Starmer and his chancellor, Rachel Reeves.

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“,”elementId”:”e9cc2aed-52e1-461a-ac17-1336d3b4c95b”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

It says ministers set to unveil billions worth of beginant portrayatement deals in AI, life sciences and infraset up.

“,”elementId”:”bb3d5f42-6531-4854-a7d7-9a25479def44″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

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“,”elementId”:”2eafa86e-be7c-4206-936a-ccf0338be8b4″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

“,”elementId”:”a766078f-cd38-4b30-8138-9fd6b65879f6″},{“_type”:”model.dotcomrfinishering.pageElements.RichLinkBlockElement”,”premend”:”Rcontent: “,”text”:”P&O Ferries not rogue, says business secretary after cabinet rift”,”elementId”:”fd064904-dee4-44fa-8b43-5fcdf0b38764″,”role”:”thumbnail”,”url”:”https://www.theprotectian.com/business/2024/oct/13/p-and-o-ferries-not-rogue-says-business-secretary-after-cabinet-rift”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

“,”elementId”:”a2d96f67-a98c-48ab-80ac-dedc1a9d9c9e”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”

“,”elementId”:”7760edb2-0ffd-456d-b5f5-ca88f71bd9c2″},{“_type”:”model.dotcomrfinishering.pageElements.SubheadingBlockElement”,”html”:”

The agfinisha

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n
10am BST: UK international portrayatement summit uncovers

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10.05am BST: Prime minister Sir Keir Starmer gives keynotice speech, trailed by an “in conversation” event with establisher CEO and chairman of Google Eric Schmidt.

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11am BST: Sveriges Riksprohibitk Prize in Economic Sciences in Memory of Alfred Nobel is awarded in Stockholm

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11.20am BST: Culture Secretary Lisa Nandy arranges a panel on the creative industries

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4.20pm BST: Chancellor Rachel Reeves gives closing speech at the portrayatement summit

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Evening: An portrayatement summit reception at St Paul’s Cathedral joined by His Majesty The King.

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Key events

Jonathan Reynageders wraps up by telling portrayateors that Britain is making a “world-beating advise” for those who produce the UK their portrayatement destination of choice.

He hopes they will exit “inspired”, and baged that the UK has a rulement that wants them to be at the forefront of our recent, pro-innovation, pro-business, pro-wealth creation economy.

Watch the Investment summit here

Here’s a inhabit feed of the key speeches at today’s International Investment Summit:

UK arranges the international portrayatement summit – watch inhabit

Business secretary Jonathan Reynageders inserts that the UK rulement is directd by four key principles:

Building extfinished-term stability
rerecenting its promisement to free and equitable trade
cutting costs for portrayateors
toiling in partnership with business and trade unions

He tells the portrayatement summit:

Our industrial strategy will produce extfinished-term, persistable, inclusive and safe increaseth.

The strategy will intensify on eight areas, Reynageders inserts: proceedd manufacturing; spotless energy industries, creative industries; defence; digital and technologies; financial services; life sciences; and professional and business services.

Business secretary Jonathan Reynageders is uncovering today’s International Investment Summit at Guildhall.

Reynageders declares that the UK is “back”, “back at the global table”, and uncover for business.

The UK has so much potential, Reynageders says, citing the uncover economy, legitimate protections, incentives for innovation, and a sended toilforce.

Naomi Smith, chief executive of campaign group Best for Britain, hopes that Keir Starmer’s war on bureaucracy will insertress some of the hurdles produced by Brexit, saying:

“Cutting red tape must integrate the mountain that Brexit has produced for almost every part of the UK economy but particularly SMEs, touring executeers and ship/begin businesses.

“Beneficial alignment with our bigst taget in areas enjoy food standards and carbon taxes will lessen costs for businesses and devourrs, give confidence to portrayateors and raise increaseth.”

Major CEOs and portrayateors arriving at Guildhall are being whisked thraw the front door, with umbrella carriers protecting them from the London weather (it’s pretty soaked today, aget).

We are prented that Guildhall is today welcoming dispenses to the Government’s International Investment Summit. Discussions are set to intensify on what the UK needs to do to produce on its position as a directing destination for international capital. #UKInvestment pic.twitter.com/zJJ2tCoPWb

— City of London (@cityoflondon) October 14, 2024

nn”}}”>

We are prented that Guildhall is today welcoming dispenses to the Government’s International Investment Summit. Discussions are set to intensify on what the UK needs to do to produce on its position as a directing destination for international capital. #UKInvestment pic.twitter.com/zJJ2tCoPWb

— City of London (@cityoflondon) October 14, 2024

Journaenumerates, though, are being let in thraw the loading bay enthrall, points out The Sun’s Ashley Armmighty:

A fitting enthrall for us riff raff journos to the portrayatement summit. Keeping us firmly in place.
The big hitters get to walk thraw Guildhall glamorous main doors with umbrella carriers pic.twitter.com/Q9X4JycDHL

— Ashley Armmighty (@AArmmighty_says) October 14, 2024

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A fitting enthrall for us riff raff journos to the portrayatement summit. Keeping us firmly in place.
The big hitters get to walk thraw Guildhall glamorous main doors with umbrella carriers pic.twitter.com/Q9X4JycDHL

— Ashley Armmighty (@AArmmighty_says) October 14, 2024

£1bn expansion of London Gateway to go ahead, DP World examines

The dockside at London Gateway port last week Ptoastyograph: Bloomberg/Getty Images

Logistics huge DP World has examineed that it will portrayate £1bn to enbig its London Gateway retainer port, after the row with convey secretary Louise Haigh was defengaged by Downing Street.

The site will also get a second rail terminal inserted to regulate the foreseeed increase in retaineascfinishd trade.

Sultan Ahmed bin Sulayem, chairman and chief executive officer at DP World, says:

“DP World London Gateway will help produce Britain’s trade flow in the future by joining domestic shipers with global tagets and deinhabitring vital supply chain resilience for the whole economy.

I am haughty of this beginant portrayatement which underlines DP World’s extfinished-term promisement to the UK.”

New: DP World examines it will go ahead with £1 billion of portrayatement in London Gateway port. pic.twitter.com/XxWjS7ls2e

— Joel Hills (@ITVJoel) October 14, 2024

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Ptoastyos of a greeting at the portrayatement summit have landed.

They show global co-chief portrayatement officer of Bdeficiencystone Lionel Assant, and Ruth Porat, the chief portrayatement officer of Google, with Porat aextfinishedside Keir Starmer:

Britain’s prime minister Keir Starmer chairing a greeting during the International Investment Summit at The Guildhall this morning Ptoastyograph: Jonathan Brady/AFP/Getty Images

Chancellor of the Exchequer Rachel Reeves (R) speaks during the greeting. Ptoastyograph: Jonathan Brady/AFP/Getty Images

Q: Most portrayateors will tell you, in personal, that the biggest barrier for the UK is being outside the individual taget. Wouldn’t rejoining the individual taget be the valiant leang to do?

Peter Kyle argues that the UK and Europe have to see to the future, and scrutinize their potential as two seperate territories.

There are lots of opportunities, and barriers, that weren’t around in 2016, Kyle says, inserting:

We’re seeing at a trade deal that scrutinizes all the opportunities going forward.

Kyle then elucidates how he visited Seattle in February this year, pitching Labour’s set ups to the head of Amazon Web Services.

That led to AWS’s declarement of £8bn portrayatement in Britain last month, he says:

And on Elon Musk’s non-euniteance at the summit, Kyle doesn’t unambiguoengagely say whether the Tesla/SpaceX chief was ever askd or not, before the row over his critical tweets this summer.

Kyle says the rulement would “adore to retain” with Musk, when he has an uncover portrayatement programme to contend for.

Q: Won’t some traditional Labour aiders be a little bit unnerved by the rulement speaking the language of the Tories – slashing red tape, getting rid of bureaucracy, getting into bed with big business?

Kyle argues everyone should commemorate that if you produce a recent innovation in this country it will produce wealth and jobs.

Q: Why did the PM tick off one of his own ministers [transport secretary Louise Haigh] for a Number 10-apshowd press liberate [which tagled P&O a “rogue engageer”]

Kyle points out that the Today Programme, and everyone else, criticised what P&O did in 2022 [it sacked its staff without accomprehendledge, and traded them with affordableer agency toilers].

P&O and its owner DP World have now signed up to the rulement’s recent toilers’ rights legislation, he says, echoing his earlier point that DP World and the UK have both turned a corner.

Q: Are you so willing at the top of the Labour Party to get shut to big business that you’ll ditch your own cabinet ministers’ words?

Kyle says the rulement is willing to show you can lift standards and entice innovation – he argues that this is happening, with DP World sticking to its £1bn portrayatement set up (which seeed shaky last week).

Q: The boss of [US pharmaceuticals firm] Eli Lily has argued that a small taget, such as the UK, must be willing to regutardy less than the EU to produce it attrdynamic for portrayateors to come here. Is that the set up?

Kyle argues that the key is to regutardy “cleverly” and “creatively”, going back to his point about wanting to help companies get thraw the regulatory process without cutting corners….

Kyle: Ripping out bureaucracy won’t drop standards

Peter Kyle is now on the Today programme, for a pre-portrayatement summit grilling, where he denies that Keir Starmer’s war on red tape will direct to cutting corners.

Q: What bureaucracy will the rulement ‘rip out’’?

Kyle gives the example of the Regulatory Innovation Office which he declared last week.

That Office gets the lgetings from Covid vaccine taskforce, to speed up deployment of innovations rapider in common times, Kyle says.

He elucidates that currently, it can get up to three years for a recent product to get thraw the regulatory minefield, before it can be made useable.

Kyle inserts:

Not cutting corners or droping standards, but making certain that the rulement gets on some of the burden of compliance, so that our nation can advantage.

Q: What if the NHS wants to hageder the price of an creative drug down, or doesn’t want to deploy a recent enbigment, anti-obesity medications for example.

Are you willing to get rid of that red tape in order to permit big US pharma huges to push their medications into the health service rapider?

“We are,” Kyle replies.

He points out that for the first time ever, health secretary Wes Streeting has getn responsibility for spreading innovation thraw the NHS.

More highairys from Peter Kyle’s morning media round:

Science and Tech Secretary Peter Kyle on P&O says their parent company DP world will be in London today at the portrayatement summit and "we hope" they will be portrayateing "more into the future of our country"

"They are a company that's on a journey to a place with better toilers'…

— Natasha Clark (@NatashaC) October 14, 2024

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Science and Tech Secretary Peter Kyle on P&O says their parent company DP world will be in London today at the portrayatement summit and “we hope” they will be portrayateing “more into the future of our country”

“They are a company that’s on a journey to a place with better toilers’…

— Natasha Clark (@NatashaC) October 14, 2024

Does the rulement still leank the CEO of P&O ferries is either appreciateless or a shameless criminal?

Has the company alterd their standards?

Here's science secretary @peterkyle #KayBurley SS pic.twitter.com/7Tf5aGw63d

— Kay Burley (@KayBurley) October 14, 2024

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'Sucount on you should have people enjoy him in the room with you?

On #BBCBreakrapid Science & Innovation Secretary Peter Kyle was asked about why the world's wealthyest person Elon Musk was not askd to the UK rulement's International Investment Summithttps://t.co/sPnirtQQqt pic.twitter.com/FiFAq4Xleu

— BBC Breakrapid (@BBCBreakrapid) October 14, 2024

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Peter Kyle has also argued that P&O and the UK have both “turned a corner”, follotriumphg the row between convey minister Louise Haigh and parent company DP World.

Asked by Times Radio about the clash, the technology and innovation secretary argued that both sides were ‘seeing to the future’:

“Like your hearers, I was mad with the way P&O acted back then.

“But, actupartner, P&O has alterd becaengage last week we begind toilers’ rights legislation which would stop that benevolent of leang happening aget and P&O were right there, right behind it.

“DP World, their parent company, were right behind it. They will be here today and they are continuing their £1bn portrayatement.

“That unkinds we’ve all turned a corner. They’ve turned a corner, our country has turned a corner and we are seeing to the future.”

Haigh’s criticism of P&O was well-createed, though. After sacking 800 toilers in 2022, the ferry operator phelp some crew members less than half the UK smallest wage, the Guardian alerted in March this year. Some agency toilers getd as little as £4.87 an hour.

Elon Musk, the world’s wealthyest person, will not be at today’s summit.

It eunited last month that Musk would not be askd, follotriumphg his disputed social media posts during last month’s uproars.

Peter Kyle, the UK’s Secretary of State for Science, Innovation and Technology, has deffinished Musk’s non-euniteance.

He tageder Sky News this morning that Elon Musk had not joined any portrayatement summits under the previous rulement either.

Q: So it’s not becaengage he calls the prime minister ‘two-tier Keir’?

Kyle denies it, saying:

Absolutely not. Our PM puts country first, party second, he’s shelp that many times.

Kyle says the summit is intensifyed on companies who are already dynamicly seeing to produce portrayatement around the world, engaging with them and getting them here.

He says £40tn of global assets are recurrented in London, seeing for places to portrayate their money; the rulement wants to showcase the country and triumph portrayatement.

The first ministers from the British nations are all foreseeed to join the portrayatement summit, as well as many regional mayors.

Mayor of London, Sadiq Khan, will be there, and says:

“I’m prented to be joining the International Investment Summit. With a recent rulement, we are reclaiming Britain’s reputation as a magnet for global portrayatement – conveying with it recent technology, recent ways of leanking and, crucipartner, recent jobs apass our country, unkinding higher living standards.

“London and the UK are uncover for business, trade and portrayatement. I will persist toiling with the Government to forge recent partnerships, reset relationships and seize the opportunity to safe extfinished-term portrayatement so that we can produce a better London for everyone and deinhabitr the alter Britain needs.”

The establisher England football deal withr and willing Labour aider Gareth Southgate is foreseeed at the portrayatement summit today.

Southgate will join actor and honestor Adjoa Andoh, Lucian Grainge, the chief executive of Universal Music Group, the company behind artists including Lady Gaga and Lana Del Rey, and an executive from Netflix on a panel exploring portrayatement opportunities in the UK’s creative scene.

More here:

Business directers: We’re chooseimistic about Britain, and it’s time to portrayate

Labour have getd a raise ahead of today’s portrayatement summit, with 14 top business directers declaring that Britain has a “very genuine opportunity” to increase its economy.

The letter says:

Sir, As global portrayateors, we apshow that there is a very genuine opportunity for the UK to increase its economy by enticeing international portrayatement. Britain’s educational set upments, legitimate system, financial services sector and language establish the bedrock of a mighty portrayatement proposition.

Technoreasonable enbigments, proceeds in the energy system and fantasticer freedom in capital flows have further raised Britain’s position.

With fantasticer stability, its attrdynamicness is increased even further. We are chooseimistic about the future of the economy, and apshow it is time to portrayate in Britain.

Monday’s TIMES: “Big money says time is right to buy into Britain”#TomorrowsPapersToday pic.twitter.com/qhLav9eUkY

— Allie Hodgkins-Brown (@AllieHBNews) October 13, 2024

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Their point about ‘stability’ will be received by Starmer, who is foreseeed to argue today that stability directs to increaseth, and that increaseth directs to stability.

Introduction: Global portrayateors and CEOs head to London for portrayatement summit

Good morning, and receive to our rolling coverage of business, the financial tagets and the world economy.

Today’s summit will see Labour pitching the UK as a place where economic stability has been repaird, creating the right conditions for increaseth and portrayatement.

And on the publish of regulation, the PM is foreseeed to promise to see at rules that “needlessly” hageder back the portrayatement the country needs, by saying:

“Where it is stopping us produceing the homes, the data centres, warehoengages, grid joinors, roads, trainlines, you name it then tag my words – we will get rid of it.

“We will rip out the bureaucracy that blocks portrayatement and we will produce certain that every regulator in this country get increaseth as gravely as this room does.”

One person’s needless red tape is another’s vital standards, though, and there are dreads that cutting regulation could be unsafe.

One union source has enjoyned Starmer’s words to establisher PM David Cameron’s “bonfire of red tape”, telling us:

“The coalition also had a massive shake-up of red tape, and finished up taking out loads of safety regulations.”

Monday’s GUARDIAN: “Safety dreads as Starmer pledges to slash red tape for portrayateors” #TomorrowsPapersToday pic.twitter.com/4DqRBvhhdz

— Allie Hodgkins-Brown (@AllieHBNews) October 13, 2024

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About 200 ageder executives are signed up to join in the summit, as well as a string of cabinet ministers, including Starmer and his chancellor, Rachel Reeves.

It says ministers set to unveil billions worth of beginant portrayatement deals in AI, life sciences and infraset up.

The agfinisha

10am BST: UK international portrayatement summit uncovers
10.05am BST: Prime minister Sir Keir Starmer gives keynotice speech, trailed by an “in conversation” event with establisher CEO and chairman of Google Eric Schmidt.
11am BST: Sveriges Riksprohibitk Prize in Economic Sciences in Memory of Alfred Nobel is awarded in Stockholm
11.20am BST: Culture Secretary Lisa Nandy arranges a panel on the creative industries
4.20pm BST: Chancellor Rachel Reeves gives closing speech at the portrayatement summit
Evening: An portrayatement summit reception at St Paul’s Cathedral joined by His Majesty The King.