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UK secures $13 billion of investment as it seeks to overcome post-Brexit slump

Britain’s Prime Minister Boris Johnson speaks throughout a information convention in Downing Avenue on September 7, 2021 in London, England.

Toby Melville – WPA Pool | Getty Photographs Information | Getty Photographs

LONDON — The British authorities is about to announce that it has secured £9.7 billion ($13.4 billion) of latest international funding, as Prime Minister Boris Johnson appears to be like to reverse the post-Brexit freefall in financing.

The federal government is internet hosting its first ever World Funding Summit on Tuesday in a bid to persuade the world’s largest worldwide buyers to pump cash into the U.Okay.

Prime Minister Boris Johnson might be hoping to bolster assist for his authorities’s “World Britain” agenda within the wake of Brexit, with international direct funding into the U.Okay. having nosedived for the reason that nation voted to depart the EU in 2016.

The summit comes at a tough time for the U.Okay. which is dealing with a slew of financial crises, together with labor shortages, record-high pure gasoline costs and provide chain constraints.

A considerable portion of the occasion’s visitor record hails from the U.S., together with Bill Gates, Goldman Sachs CEO David Solomon, JPMorgan boss Jamie Dimon and Blackstone CEO Stephen Schwarzman.

In keeping with Downing Avenue, the 18 offers already secured will result in the creation of least 30,000 jobs and drive funding for key sectors akin to hydrogen vitality, sustainable housing and carbon seize and storage.

“That is simply the beginning. We are going to see new partnerships for inexperienced progress cast at at the moment’s World Funding Summit, as we stay up for COP26 and past,” Johnson stated in a press release.

The U.Okay.’s Division for Worldwide Commerce has additionally launched a brand new on-line platform for worldwide buyers to determine alternatives in England, Scotland, Wales and Northern Eire.

The “Funding Atlas” will supply 53 strategic funding alternatives, together with offshore wind substructures in Scotland and manufacturing ports within the northeast of England.

https://www.cnbc.com/2021/10/19/uk-secures-13-billion-of-investment-as-it-seeks-to-overcome-post-brexit-slump.html | UK secures $13 billion of funding because it seeks to beat post-Brexit droop

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