UK Government To Launch £1.4 Billion Fund To Attract More Overseas Investment
The Chancellor of the Exchequer Rishi Sunak is to launch a £1.4 billion fund to attract more overseas investment to the UK economy. In particular, the fund is aimed at sectors such as electric vehicles production and life sciences.
On Wednesday, Sunak is also expected to announce plans to attract highly skilled workers from abroad and amend regulations to make it easier for international companies to relocate to Britain.
International companies with strategically important investment proposals can expect to receive grants towards their schemes under the government’s plans, provided they pass an assessment to ensure they provide value for the UK taxpayer.
“We want to make the UK the best place in the world to start, grow and invest in a business, as we continue to support enterprise, create jobs, and level up as we recover from the pandemic,” Sunak said.
Last week, the government hosted 200 business leaders at a global investment summit in London. The summit included a dinner with Prime Minister Boris Johnson for the world’s top business leaders and a reception at Windsor Castle with the Queen as the country attempted to impress multinational companies.