A £150 billion investment package from the United States has been announced during President Donald Trump’s state visit to the UK. This is being described as the largest commercial deal of its kind, with expectations to generate over 7,600 jobs throughout the UK. The majority of the funding is associated with Blackstone, the largest alternative asset management firm in the world, which has committed to investing £90 billion in the UK over the next ten years.
Prime Minister Keir Starmer referred to the investments as evidence of Britain’s economic strength and a signal of the country’s readiness for global leadership. He emphasized that the investments align with promises made to working people regarding jobs and growth. Following this announcement, major investors from both countries are scheduled to meet at Chequers to explore strategies for strengthening economic ties.
In June, Blackstone announced a broader plan to invest £370 billion in Europe over the next decade. Notable pledges have also come from Microsoft, which committed £22 billion in the UK over four years, and Google, which set aside £5 billion to expand a data center in Hertfordshire. These investments aim to counteract declines in the pharmaceutical sector, although critics noted that the sums pledged by Microsoft and Google represent less than 4% of their annual expenditures, while the expected job creation is relatively small compared to the 160,000 payroll jobs lost in the UK since the previous year.
In addition to Blackstone’s commitment, other American firms are making significant investments: Prologis will invest £3.9 billion in life sciences and advanced manufacturing, while Palantir plans to invest up to £1.5 billion in defense innovation, resulting in 350 new jobs. Boeing is set to convert two 737 aircraft in Birmingham, creating 150 high-skilled jobs, and Amentum anticipates generating over 3,000 jobs through workforce expansion.
The anticipated 7,600 jobs will be distributed across various regions, including 1,000 in Belfast and 6,000 across areas from Glasgow to Warrington, the Midlands, and the North-East. Business and Trade Secretary Peter Kyle indicated that the deal reflects increasing confidence in the UK’s industrial strategy and aims to provide real opportunities for working individuals, including apprenticeships in clean energy and careers in biotech and AI. This investment comes ahead of the signing of the Tech Prosperity Deal, which aims to promote nuclear power development in both countries.
Source: https://www.bbc.com/news/articles/cx2nllgl3q7o?at_medium=RSS&at_campaign=rss