Sunak announces new investments, including Iberdrola, worth 34 billion euros

British Prime Minister Rishi Sunak announced commitments to private investment in the UK totaling £29,500 million (€34,000 million), including new pledges from Spanish company Iberdrola worth £7,000 million (€8,055 million). ).

Downing Street, the Prime Minister’s Office, announced the investments in a statement, before the call was made on Monday. Global Investment Summit In Hampton Court Palace, on the outskirts of London.

According to the British government. Iberdrola plans to allocate £7 billion to the UK between 2026 and 2028.appearance Apart from the £6.7 billion (€7.7 billion) already committed for 2023-2025.

About two-thirds of the money invested between next year and 2028 will go toward electricity transmission and distribution networks, in addition to projects such as the submarine transmission cable. Eastern Green Link 1 (EGL1)“which received regulatory authorization this month,” says the memo echoed by Efe.

The investment summit will bring together the heads of large multinational companies and funds, whose investments will create more than 12,000 job opportunities. It will contribute to the development of various parts of the country, in the opinion of the executive authority.

The financial packages that will be announced throughout the conference are consistent Sectors such as technology, life sciences, infrastructure, housing and renewable energy.

king Snack Minister of Business and Trade, Kimmy Badenoch, They will be responsible for opening the summit that he is expected to attend The CEOs of Blackstone, Stephen Schwarzman, JPMorgan Chase, Jamie Dimon, or Goldman Sachs, David Solomon.

in addition to IberdrolaOne of the other big investments that will be presented at the summit will be £10,000 million (€11,500 million) Australian superannuation fund IFM Investors wants to invest in infrastructure and energy transformation projects In the next four years.

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On the technological side Microsoftaccording to the British government, will be appointed £2.5 billion (€2.87 billion) for AI development centers in the UK.

“Today’s investments (…) will create thousands of new jobs and represent a major vote of confidence in the future of the British economy,” Sunak said in the memo.

The Prime Minister who claims to have risen “Biggest tax cut in modern history” In his financial plan presented this week, he said attracting global investment was “at the heart” of his economic development programme.

The plan revealed by the Minister of Economy Jeremy HuntIt includes extending corporate tax breaks and new investment incentives, although it keeps the overall tax burden at record levels.

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