{"id":142115,"date":"2021-10-18T23:31:58","date_gmt":"2021-10-18T23:31:58","guid":{"rendered":"https:\/\/precoinnews.com\/?p=142115"},"modified":"2021-10-18T23:31:58","modified_gmt":"2021-10-18T23:31:58","slug":"boris-johnson-announces-10bn-of-foreign-investment-as-he-rolls-out-red-carpet-for-business-leaders","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/boris-johnson-announces-10bn-of-foreign-investment-as-he-rolls-out-red-carpet-for-business-leaders\/","title":{"rendered":"Boris Johnson announces \u00a310bn of foreign investment as he rolls out red carpet for business leaders"},"content":{"rendered":"
Boris Johnson will announce \u00a39.7bn of foreign investment – creating at least 30,000 jobs around the UK – as he welcomes almost 200 business leaders to a London summit.<\/p>\n
Microsoft co-founder Bill Gates will be among the attendees at the Global Investment Summit being held at the capital’s Science Museum.<\/p>\n
The summit, which is being supported by the Queen, is being hailed by the government as a chance to look at the role of the private sector in reducing carbon emissions.<\/p>\n
Ministers also hope to use the event, which comes two weeks before the COP26 climate change summit in Glasgow, as a means of highlighting investment opportunities in the UK in sustainable industries.<\/p>\n
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The prime minister will open the summit on Tuesday alongside International Trade Secretary Anne-Marie Trevelyan.<\/p>\n
And he will also take part in a panel discussion with Mr Gates on global efforts to transition from fossil fuels to renewable energy, as well as the role of businesses on climate change.<\/p>\n
The £9.7bn of foreign investment being announced by Mr Johnson is a package of 18 deals ranging from wind and hydrogen energy, to carbon capture and storage.<\/p>\n
Some £6bn of the foreign investment relates to Spanish energy firm Iberdrola confirming its intention to invest in offshore wind through ScottishPower’s East Anglia hub.<\/p>\n
Subject to planning approval, the scheme aims to generate enough electricity to power more than 2.7 million homes.<\/p>\n
The East Anglia hub plan was first announced by ScottishPower in 2019.<\/p>\n
Ahead of Tuesday’s Global Investment Summit, the prime minister said: “The world’s top investors have seen the massive potential in the UK for growth and innovation in the industries of the future.<\/p>\n
“The fantastic £9.7bn of new investment we have secured today will power our economic recovery, creating thousands of jobs and helping to level up across the country.<\/p>\n
“This is just the start. We will see new partnerships for green growth forged at today’s Global Investment Summit, as we look ahead to COP26 and beyond.”<\/p>\n
Subscribe to ClimateCast on <\/strong>Spotify<\/strong> or <\/strong>Apple Podcasts<\/strong>.<\/strong><\/p>\n On Monday night, Mr Gates was among about 20 business leaders who attended a dinner in 10 Downing Street hosted by Mr Johnson and Foreign Secretary Liz Truss.<\/p>\n The prime minister’s official spokesman said it was being catered by Clare Smyth, the first woman chef in the UK to get three Michelin stars, with a menu “showcasing the best of British produce”.<\/p>\n Canapes of jellied eels, chicken liver parfait, and pumpkin and white truffle gougere were due to be served before a starter of potato and roe.<\/p>\n Venison from the Rhug Estate, near Corwen in Denbighshire, prepared with a 16-year-old Lagavulin whisky was to be followed by a dessert of lemon and pear meringue.<\/p>\n The Queen and other senior royals will host a reception at Windsor for summit delegates on Tuesday, with the prime minister and Chancellor Rishi Sunak also expected to attend.<\/p>\n