Prime Minister will vow to slash needless regulation at investment summit

Billions of pounds worth of investments in emerging growth sectors are set to be unveiled by businesses and ministers at the Government’s inaugural International Investment Summit today – 14 October.

CEOs and investors from across the globe will meet with ministers, First Ministers, and local leaders at the Guildhall in the City of London.

The Government’s policy platform – including bolstering the Office for Investment, a robust Industrial Strategy, major planning reforms to unlock infrastructure and housing, and founding a National Wealth Fund to catalyse private money – is intended to attract investment, kickstart growth, and unlock Britain’s potential.

In his keynote speech opening the summit, Prime Minister Keir Starmer will say not enough has been done to make sure the UK is keeping pace with emerging industries.

He will pledge to “upgrade the regulatory regime to make it fit for the modern age, making Britain fit to harness all opportunities.”

Starmer will also say: “We have the determination, the focus on clear long-term ends, a mission-led mindset that thinks in years, not the days or hours of the news grid, needed to unlock that potential.

“We are focusing on investment because the mission of growth, in this country especially, demands it. Private sector investment is the way we rebuild our country and pay our way in the world.

“We’ve got to look at regulation where it is needlessly holding back the investment, to take our country forward.

“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 every regulator in this country take growth as seriously as this room does.”

The Government will ask the Competition and Markets Authority to prioritise growth, investment, and innovation through their work as a priority and it will also be reviewing the focus of other major regulators.

The summit will involve sessions with ministers and business leaders to discuss how together they can ensure the UK capitalises on emerging growth sectors including health tech and AI, clean energy and creative industries.

Confirmed speakers including Ruth Porat president & chief investment officer of Alphabet, David A Ricks, chair and CEO of Eli Lilly, Alex Kendall CEO of Wayve and Pushmeet Kohli vice president of research at Google DeepMind.

The Prime Minister will take part in an “in conversation” event with former CEO and chairman of Google Eric Schmidt, moderated by CEO of GSK Dame Emma Walmsley to discuss how the UK can seize the opportunities of AI to drive growth and productivity, and its potential to improve public services such as health and education.

The Chancellor Rachel Reeves will close the summit and take part in a panel event discussing investment opportunities in the UK with group chief executive of USS Carol Young, chairman and CEO of BlackRock Larry Fink and CEO of Brookfield Asset Management Bruce Flatt.

Investment Minister Poppy Gustafsson said: “It’s never been a better time to invest in Britain. This summit is a hugely significant moment to showcase the UK’s economic strengths on the world stage and I’m pleased to be part of the Government’s important work to drive growth and investment across the UK.”