Sir Keir Starmer is due to present Labour’s investment agenda to global financial leaders at a conference in early October, aiming to attract tens of billions of dollars in foreign capital.
The summit, scheduled for around October 8, is in line with Labour’s pledge to host the event within 100 days of taking office.
The date is expected to be confirmed soon, with invitations to follow. Labour hopes its inaugural summit will top the £29.5bn of investment announced at the Conservative-led Global Investment Summit last November.
Notable attendees at previous summits have included Blackstone CEO Stephen Schwarzman, Goldman Sachs CEO David Solomon, JPMorgan Chase CEO Jamie Dimon, and Ignacio Galán, chairman of Iberdrola.
Jonathan Reynolds, the new Business Secretary, has assured private sector leaders of his commitment to providing access and a pro-business approach. Speaking remotely to more than 100 executives from major companies including Heathrow Airport, BT Group, BP and the Confederation of British Industry, Reynolds announced plans to launch a dedicated email address for businesses and investors to share ideas and concerns.
Reynolds stressed Labour’s focus on four key business priorities: a target-driven industrial strategy, support for small and medium-sized enterprises, support for British exports and trade relations, and ensuring fair wages. These initiatives aim to create a thriving economy for all.
The Ministry of Business and Trade declined to comment on the date of the summit.