Labour leader Sir Keir Starmer has announced plans for a Global Investment Summit, set to take place on or around October 8th. This summit, a key part of Labour’s campaign pledge, comes within the first 100 days of the new Labour government taking office.
According to sources, the date for the summit is expected to be finalized this month, with invitations being issued shortly afterward. The summit aims to attract foreign capital and has the potential to surpass the investment summits held by the previous Conservative governments.
Previous summits have seen top business leaders in attendance, including Blackstone chef Stephen Schwarzman, Goldman Sachs boss David Solomon, and JP Morgan Chase counterpart Jamie Dimon. Labour’s new business secretary, Jonathan Reynolds, has promised accessibility to private sector leaders and a pro-enterprise stance.
During a remote call with over 100 business leaders, Mr. Reynolds stated that his department would launch an email address for businesses and investors to contact him with ideas and concerns. He also expressed a focus on four key business priorities, including a mission-driven industrial strategy, support for SMEs, championing UK exports, and making work pay.
This summit aligns with Labour’s goal of creating an economy that works for everyone. The Department for Business and Trade declined to comment on the date of the summit, but sources say it is expected to be a major event for the new Labour government.
