UK leaders will gather in Scotland on Friday, 11 October, as Prime Minister Keir Starmer hosts the inaugural Council of Nations and Regions.
With the aim of fostering long-term investment and strengthening economic ties, this meeting marks a new chapter in the UK government’s approach to boosting growth and improving living standards across all parts of the country.
A New Era of Collaboration
In a pivotal move, Starmer is bringing together a diverse group of leaders—including First Ministers, Northern Ireland’s First Minister and Deputy First Minister, and regional mayors from across England.
The goal?
To ensure every part of the UK is poised to benefit from the upcoming International Investment Summit. As the Prime Minister stated, this isn’t just another “talking shop,” but a meaningful effort to reset relationships and establish a united front for driving national progress.
“We’re delivering our promise to convene the first Council of Nations and Regions, working as one team to maximise opportunities ahead of the Investment Summit,” said Starmer.
He emphasised that this gathering will redefine the UK’s position on the global stage and unleash the potential for everyone across the UK to benefit economically.
Focus on Investment and Growth
Three days ahead of the International Investment Summit in London, the Council meeting is set to lay the groundwork for what is expected to be one of the most important economic events in recent memory.
Local leaders, alongside heads of devolved governments, will play a crucial role in shaping the conversation, aiming to attract investors from across the globe.
With a clear focus on long-term investment, these discussions aim to secure new business partnerships, boost productivity, and ensure economic stability. Starmer’s efforts reflect a vision of shared prosperity, where economic growth is not confined to London or other traditional power centres, but extends to all corners of the UK.
Tracy Brabin, Mayor of West Yorkshire, expressed her enthusiasm, stating,
“This new era of genuine partnership working between the Government and Mayors will help us to unleash the potential of our great regions and boost growth.”
The International Investment Summit
The upcoming International Investment Summit in London will bring together high-profile business leaders, investors, and government officials.
Prime Minister Starmer will open the event with a conversation featuring Eric Schmidt, the former CEO of Google, who will discuss the role of artificial intelligence in driving future economies. This follows last year’s global summit on AI safety, where the UK demonstrated its commitment to responsible innovation.
Schmidt highlighted the UK’s potential, stating,
“The UK has the opportunity to go even further and articulate a vision for the future where it is a hub for world-class talent.”
The summit will also feature speakers such as Ruth Porat, President and Chief Investment Officer of Alphabet and Google, Alex Kendall, CEO of Wayve, and Bruce Flatt, CEO of Brookfield Asset Management.
Their presence underscores the significance of this summit as an opportunity for the UK to attract crucial investment, particularly in the tech sector, which has the potential to drive future economic growth.
Key Partnerships and Investment Prospects
As businesses and investors convene for the summit, the UK government is keen to showcase opportunities for investment across multiple sectors, including green energy and infrastructure.
Additionally, several large companies are already on board, with Barclays, HSBC, and Lloyds Banking Group all sponsoring the event.
Here’s a snapshot of the UK’s investment potential:
- Carbon capture projects in Teesside and Merseyside will remove 8.5 million tonnes of carbon emissions annually.
- Investments in hydrogen technology are expected to create 4,000 new jobs.
- Projects like these will sustain critical British industries while positioning the UK as a leader in environmental innovation.
Region |
Investment Focus |
Impact |
|---|---|---|
| Teesside & Merseyside | Carbon Capture & Hydrogen | 4,000 jobs, 8.5 million tonnes of CO2 removed annually |
| West Yorkshire | Infrastructure & Skills | Attracting business, creating jobs |
| London | AI & Technology | Driving tech innovation & investment |
The summit, sponsored by major financial institutions like Barclays, HSBC, and Lloyds, represents a major opportunity to strengthen the UK’s reputation as a stable and innovative destination for global investment.
C.S. Venkatakrishnan, Group Chief Executive of Barclays, noted the UK’s appeal, stating,
“The UK’s stability, skills, and history of innovation make it an attractive investment destination.”
Future Prospects
Sources: THX News, Prime Minister’s Office, 10 Downing Street & The Rt Hon Sir Keir Starmer KCB KC MP.
