- Rachel Reeves pledges that the landmark Regional Investment Summit will attract investment, jobs and growth that make people better off wherever they live in the country.
- With one month to go, E.ON, Lloyds and KPMG, HSBC and IBM have already been confirmed as sponsors for the Birmingham summit.
- This comes as the Mayor of the West Midlands and the Leader of Birmingham City Council announce the launch of the biggest Mayoral Development Corporation in the country to create tens of thousands of jobs and add billions to the local economy.
Rachel Reeves has fired the starting gun on the Government’s landmark Regional Investment Summit, pledging that “no region will be locked out of investment”.
The summit will bring together business leaders and major investors with policymakers, regulators, regional mayors and other local leaders to showcase the breadth and depth of opportunities to invest, expand and create jobs right across our nations and regions.
“Under this Government no region will be locked out of investment.
“Business confidence is at its highest level since 2015, private sector activity expanded at the fastest pace in a year in August, and top CFOs have ranked the UK as the top investment destination in the world.
“Our opponents want to talk down Britain's economy. But whilst the economy isn’t broken, for many it feels stuck, which is why I’m determined to attract more investment into every region of the UK so we can build an economy that works for, and rewards, working people.”
– Chancellor of the Exchequer, Rachel Reeves
"The West Midlands is a huge part of E.ON’s DNA with our offices, strategic energy partnership and innovation all already thriving in this region.
“So, it’s fantastic to be supporting events like the Regional Growth Summit and see the West Midlands showcasing how sustainable energy can drive real growth in green skills, jobs and the economy.
“Local collaboration between government and businesses is key to accelerating more affordable, secure energy and net zero delivery, and as such, events like this are key to building those collaborative relationships."
– Chris Norbury, Chief Executive Officer E.ON UK
Building on the 10 Year Infrastructure Strategy and Industrial Strategy, the summit will highlight the UK’s regional investment opportunities in areas such as housing, infrastructure, AI and energy. It will show how this Government is reversing the underinvestment some parts of the country have suffered for too long, which will deliver jobs and economic growth that puts more money in the pockets of people who live there.
“The UK has become the world’s most attractive investment destination, and this Summit is a prime opportunity to show investors why Britain is truly the best place to do business.
“We have the most open, stable and connected economy in the world – backed by our modern Industrial Strategy – and our Plan for Change is encouraging more international companies to invest here, helping to deliver growth and jobs in every region of the UK.”
– Peter Kyle, Business and Trade Secretary
With the most recent figures showing business confidence and investment appetite in the UK are at record highs, the Chancellor has pledged that no region will be locked out of the investment, jobs and growth being delivered as part of the Government’s Plan for Change.
Backed by major corporations including E.ON, Lloyds, KPMG, HSBC and IBM, the summit will be hosted in Birmingham on Tuesday 21 October, and will be co-hosted by the Chancellor, the Business and Trade Secretary, and the Mayor of the West Midlands, Richard Parker, with business leaders, international investors, and policymakers from home and abroad in attendance.
“The first Regional Investment Summit is a chance to show the world the strength of the West Midlands and all our regions - we are brimming with opportunities for investors.
“This Summit is about putting our ideas, our people, our opportunities and our businesses on the map - and I’m excited to welcome partners from the globe to see first-hand why the West Midlands is the place to invest.”
– Richard Parker, Mayor of the West Midlands
“At HSBC, we are determined to support UK businesses' growth ambitions, both at home and abroad. As the world’s leading bank for international trade, we know that the dynamism of UK business is integral to the future health of the economy.
“HSBC supports the Government’s ambition to cement the UK’s position as a science and tech superpower. The summit will highlight the very best of the region’s innovative businesses, driving inward investment and growing our exports around the world to create jobs and drive the economy.”
– Ian Stuart, CEO of HSBC UK
“This Summit will be a fantastic moment to spotlight the strength and opportunity of the UK’s regions and their crucial role in helping drive national economic growth.
“KPMG’s heritage lies in our regional businesses and every day we work with brilliant companies across the country.
“The West Midlands is well-placed to host this Summit and showcase the skills, innovation and talent on offer in the region, and provide a springboard for regional growth.”
– Jon Holt, Group Chief Executive and UK Senior Partner KPMG
This comes as Richard Parker, alongside the Leader of Birmingham City Council, John Cotton, today [Monday 22 September] announced the launch of the biggest and most ambitious Mayoral Development Corporation in the country.
It will incorporate the £3 billion Birmingham Sports Quarter, the £4 billion Birmingham Knowledge Quarter, the HS2 station at Curzon Street, the £2 billion Smithfield development, and a major creative industries hub in Digbeth.
“The UK’s regions are the powerhouses of innovation, investment and growth.
“We’re proud to support the inaugural Regional Investment Summit, which highlights the strength of local partnerships and the opportunities they create.
“Through the breadth and depth of our relationships with businesses across the country, Lloyds Banking Group is helping to unlock regional potential, attract investment, and fuel the UK’s long-term prosperity.”
– Charlie Nunn, Group Chief Executive, Lloyds Banking Group
This new corporation – part of a wider Mayoral Development Zone – will create tens of thousands of jobs and add billions to the local economy.
The government's modern Industrial Strategy is also helping to deliver long-term growth right across the UK by driving investment into the economy and hardwiring stability for investors, giving them the confidence to plan not just for the next year, but for the next 10 years and beyond.
