Keir Starmer calls for support for Britain and promises bureaucracy reduction

In a compelling address to international business leaders, Prime Minister Keir Starmer on Monday urged the global business community to "bet on Britain." At a summit in London aimed at securing urgently needed investments to boost economic growth following the post-Brexit turmoil, Starmer made it clear that his recently elected Labour government is determined to dismantle bureaucratic barriers that hinder investments. He emphasized the central role of the International Investment Summit in his agenda and highlighted that the summit has already secured £63 billion in foreign funds for projects in the UK. Despite this success, a significant portion of the investments had been previously announced. Starmer won a clear majority in July, yet his government faces a decline in popularity due to several missteps. A YouGov poll shows that only 18 percent of respondents are satisfied with the government's performance. Undeterred by the current poll ratings, the Prime Minister is focusing on the long-term opportunities of his election to achieve the central goal of economic growth. Starmer reiterated that private capital is key to "rebuilding" the country and remaining globally competitive. Alongside regulatory promises and the intent to repair Britain's brand as an open trading nation, the government also announced significant investments in green energy, including from Iberdrola and Orsted. Additional announcements from American companies like CyrusOne and ServiceNow in the data center sector, as well as the expansion of Stansted Airport by the Manchester Airports Group, underscore the commitment of foreign investors. However, the summit was also marked by controversies, such as the company DP World and its threatened withdrawal, which was averted at the last moment. In light of the upcoming budget proposal by Finance Minister Rachel Reeves, which suggests a possible increase in capital gains tax, she assured businesses that the corporate tax would be capped at 25 percent for the entire term.