UK reveals infusion of USD37.3B investments into key sectors of UK economy
Date
11/28/2023 3:31:30 AM
(MENAFN) British Prime Minister Rishi Sunak has unveiled a significant economic initiative, announcing a fresh infusion of investments totaling USD37.3 billion into key sectors of the United Kingdom's economy. These sectors include technology, life sciences, infrastructure, home building, and renewable energy. The investment is anticipated to generate thousands of jobs, bolstering employment opportunities and contributing to the overall growth of the British economy.
During the inauguration of the World Investment Summit, Prime Minister Sunak emphasized the United Kingdom's attractiveness for global investment companies. He underscored the government's commitment to fostering an optimal investment environment. Sunak pointed to a recent historic decision by his administration to reduce business taxes, highlighting it as the most substantial tax cut in British history. Additionally, he acknowledged the innovative outputs of British universities as a driving force behind the country's appeal to investors.
British Energy Security Minister Claire Coutinho echoed the government's emphasis on clean and renewable energy sectors, asserting the United Kingdom's leadership in these domains. She revealed that the nation had successfully attracted USD252 billion in investments aimed at reducing carbon emissions since 2010. Furthermore, Coutinho anticipated additional investments valued at USD126 billion by 2030, signifying a continued commitment to sustainable practices and technologies.
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