UK’s Sunak hails $37 bln investments before FDI summit

Prime minister Rishi Sunak announced 29.5 billion pounds ($36.8 billion) of private-sector investments in Britain, before hosting global executives in his bid to restore the country as Europe’s top foreign direct investment (FDI) destination. After the government last week offered permanent tax breaks for businesses to modernise their plant and machinery, Sunak is hoping that his wooing of foreign investors will help to speed up Britain’s moribund economy.

Other projects listed in the statement include a 2.5 billion-pound investment in artificial intelligence infrastructure by Microsoft. “Attracting global investment is at the heart of my plan for growing the economy,” Sunak said in the statement published ahead of his investment “summit” on Monday at the 16th-century Hampton Court palace in London.

Source: Devdiscourse