Britain announces 82 bln dollars investment plan

LONDON, Oct. 15 (Xinhua) — British Chancellor Rachel Reeves on Monday unveiled a private investment plan worth 63 billion pounds (82.30 billion U.S. dollars), which will create nearly 38,000 jobs and double last year’s amount of investment in Britain.
At the International Investment Summit, Reeves announced the expansion of the National Wealth Fund, which will merge with the existing UK Infrastructure Bank established by the previous government.
The newly combined entity will be headquartered in Leeds, aiming to boost clean energy and growth industries.
British Prime Minister Keir Starmer emphasized Britain’s commitment to leading economic growth, promising to achieve this “through the shock and awe of investment.”
The summit also saw commitments spanning the infrastructure and tech sectors. Business and Trade Secretary Jonathan Reynolds highlighted Britain’s resolve to stimulate economic growth nationwide.
He added that the forthcoming Industrial Strategy will provide the certainty needed for the country to lead in innovation and job creation. ■