Tag: Business and Trade Department

The press release issued by the Department for Business and Trade on 24 June 2025.

The Industrial Strategy will invest over £150 million in five transformative AI and technology programmes to help UK Professional and Business Services.

• UK’s modern Industrial Strategy will drive forward 2035 ambition for UK professional and business services to be most dynamic and innovative in world
• Plan includes five new centres of excellence across country to help services firms grow and adopt new technology
• New international marketing campaign will also be deployed for UK services through GREAT

The UK’s modern Industrial Strategy will invest over £150 million in five transformative AI and technology programmes to help UK Professional and Business Services (PBS) sectors such as legal, management consulting and accountancy soar.

The latest step in the Government’s Plan for Change, the funding comes as part of a wider package of commitments in the Industrial Strategy sector plan for the PBS sector, published this week.

With professional business services worth £300 billion a year and supporting one in every seven jobs, the sector has been put at the heart of the UK’s modern Industrial Strategy, recognising its critical role in unlocking growth and creating jobs across all UK regions and sectors – and the UK’s place as the second largest exporter of services in the world, behind only the US.

Minister for Investment Poppy Gustafsson CBE will visit the University of Edinburgh on Tuesday where she will meet with the Law Society of Scotland to hear more about AI adoption and how Scotland is a hub for world class PBS firms.

Jonathan Reynolds, Secretary of State for Business and Trade said:

The Professional and Business Services sector is the jewel in the crown of the UK economy, worth over £300bn a year and making up one in every seven jobs.

Our Industrial Strategy and Plan for Change will help the sector soar further through the adoption of new technologies such as AI and increased promotion overseas as we strive to make the industry the most dynamic and innovative in the world by.

The plan sets out the sector’s ambition for the UK to be the most trusted adviser to global industry, with the most dynamic and productive PBS sector by 2035, whilst remaining the world’s second largest exporter of professional business services after the US.

The five programmes will be focused on building on the already high levels of AI adoption in the sector, with major spends on launching a new PBS adapted Made Smarter digital adoption programme and enhancing Innovate UK’s Next Generation Professional Services programme which advises firms to adopt new technologies and support research.

From Birmingham to Glasgow, this will be accompanied by new PBS centres of excellence in five city regions to offer firms advice, with a new national AI skills hub to offer wider support, alongside a new research programme to tackle barriers to innovation – starting with real estate.

By placing innovation at the heart of the plan, it aims to increase business investment in the PBS sector and ensure the UK will not just be an AI taker, but an AI maker in delivering modern Professional and Business Services.

Other measures to boost the UK’s PBS sector in the plan include:

• A new marketing campaign for PBS through GREAT + and more opportunities for PBS firms to join government trade missions.
• Expanded support for regulators to negotiate mutual recognition of professional qualifications agreements, especially with the EU, US, and other key markets.
• A Trade Digitalisation Task Force to advise PBS firms and clients on the productivity and growth benefits of digital trade documents and processes and to break down barriers to adoption.
• UK Export Finance to provide guarantees to PBS firms securing early-stage overseas project contracts for the first time, strengthening the UK’s position as the world’s second largest PBS exporter.
• A new PBS AI Champion by summer 2025 to identify growth opportunities, address adoption barriers, and deliver sector-wide AI Adoption.

Iain Wright, Chief Policy & Communications Officer, ICAEW, PBSC Business Co-Chair, said:

The launch of the Industrial Strategy marks a pivotal moment in the collaboration between business and government to enable the UK economy to grow and we were pleased to work with the government to develop the ambitious sector plan to make the UK the most trusted economy for PBS by 2035.

With targeted support, the plan sets the stage for a more innovative, competitive and growing sector which underscores our position at the heart of the economy. I strongly welcome this renewed partnership, and we see today’s launch as the start of a long-term collaboration with government to turn this vision into reality.

Kirsty Newman, Deloitte UK Market Chair, said:

The PBS sector plan represents an important moment for our sector and sets out a bold and exciting vision for the future. It recognises our impact as a major employer and economic contributor in our own right, but also how we drive growth, innovation and resilience across the economy.

The sector plan will help to ensure PBS is underpinned by the right skills and regulatory framework, is at the forefront of technological innovation and grows its presence internationally and in all regions and nations of the UK.

The commitments from government and long-term engagement with the sector can solidify the UK’s reputation as a global centre of excellence for PBS.

Tamzen Isacsson, Chief Executive of the Management Consultancies Association (MCA), said:

Consulting is one of the UK’s great economic success stories, with firms helping clients to grow, innovate, and tackle complex challenges. The Industrial Strategy and PBS sector plan is a blueprint to go further – accelerating tech adoption, opening procurement to SMEs, upskilling our workforce, and cementing the UK’s global leadership in services.

As a sector with over 300 offices across the UK, we look forward to supporting the regional agenda of the Government as well as partnering with it to promote the skills and expertise of UK consulting globally.

Richard Atkinson, President of the Law Society of England and Wales, said:

The government’s new Industrial Strategy can be a game-changer for the UK economy and the legal sector. Putting legal services at the heart of the country’s economic engine will fuel sustained growth.

Our legal industry is the second largest in the world, the biggest in Europe and brings all other sectors together. By opening global markets for UK lawyers, investing in our courts’ infrastructure, supporting technology in legal services and upholding the rule of law, we ensure the UK remains a global jurisdiction of choice. The Law Society looks forward to working with the government to deliver its long-term vision for growth in our sector.

The press release issued by the Department for Business and Trade on 24 June 2025.

Up to £13 billion of direct lending will be used to help boost British exports across key industrial sectors as part of new growth measures spearheaded by UK Export Finance (UKEF).

• Multi-billion-pound direct lending by UK Export Finance will help boost orders for British exporters across key industrial sectors, including defence
• Export credit agency to introduce new product to secure critical minerals supply and plans to legislate to increase its statutory commitment limit to support even more businesses
• New measures announced as part of Industrial Strategy published yesterday

Through its Direct Lending Facility, UKEF – the government’s export credit agency – provides loans to overseas buyers, allowing them to finance the purchase of capital goods and services from UK suppliers.

Outlined in the Industrial Strategy, UKEF now has greater flexibility of direct lending powers to support all eight Industrial Strategy sectors, from clean industries and life sciences to advanced manufacturing and defence.

The £13 billion marks a £3 billion uplift in UKEF’s facility. Of this £13 billion, at least £3 billion will be used to stimulate defence exports, demonstrating the growing importance of this sector to economic and national security.

Recent direct lending deals include a £18.8 million equivalent loan for an Angolan clean water project delivering up to approximately £6.8 million of supply contracts for British exporters, and a £23 million equivalent loan to Iraq’s Ministry of Interior to purchase 62 UK-made fire-fighting vehicles.

Business Secretary Jonathan Reynolds said:

UKEF plays an instrumental role in delivering our Industrial Strategy – providing the essential support that British businesses need to compete internationally.

By unlocking export opportunities and supporting innovation across key sectors through mechanisms like direct lending, UKEF is helping to drive sustainable economic growth, create highly skilled jobs and strengthen Britain’s place as a go-to trading partner.

Our commitment to backing British exporters forms a vital part of this government’s Plan for Change which will raise living standards in every part of UK.

Following on from the announcement of UKEF’s Critical Minerals Supply Finance product in the Autumn Statement, the department is going further to secure industry access to critical minerals by launching a new loan guarantee scheme for UK-based suppliers that sell critical minerals, or products that contain critical minerals, to UK exporters.

UKEF also plans to legislate to have its statutory commitment limit – the entire amount of support that the department can have on its books at any one time – increased which will enable it to support more businesses of all sizes across the UK. The department will review its operating mandate to consider taking on a broader trade and investment finance remit.

To encourage growth at a local level, the department plans to expand its network of 24 local export finance managers to give focus on city regions and clusters where key sectors have a presence. Export finance managers provide free and impartial guidance to businesses on their export finance needs.

UK Export Finance CEO Tim Reid added:

UKEF is well positioned to drive exports across high-impact industry sectors and create economic growth. We look forward to playing a key role in driving delivery of the Industrial Strategy, using our increased capacity and flexible product range.

Backed by our comprehensive five-year business plan that will reach businesses of all sizes across every region and nation of the UK, we’re laying the extra foundations to enable thousands more British businesses to take their products and services to global markets.

The measures are announced ahead of UKEF’s 2024/25 annual report & accounts which will be published shortly. The results are expected to show it was a record-breaking year for the department.

It will build on the results of the 2023/24 financial year in which UKEF provided over £8.8 billion of support to 650 businesses of all sizes and types, supported up to 41,000 jobs in communities around the whole UK and the contribution of up to £3.3 billion to the overall economy.

The press release issued by the Department for Business and Trade on 24 June 2025.

Prime Minister welcomes a £40bn investment plan by Amazon over the next three years in show of confidence following Industrial Strategy launch.

• Amazon confirms £40bn investment plan for the UK over the next three years in vote of confidence following the Industrial Strategy
• Investment goes towards four new fulfilment centres in Hull, Northampton and East Midlands creating over 4,000 jobs across the sites
• Business Secretary visits Amazon’s HQ to welcome news as further proof Britain is the best place to do business as Government’s Plan for Change delivers for working people

Thousands of new jobs are set to be created across the UK, as Amazon today (Tuesday 24 June) announces a landmark £40 billion investment over the next three years.

This investment – announced the same week as the Government’s transformational Industrial Strategy – includes building four new fulfilment centres and new delivery stations nationwide, as well as upgrades and expansions to its existing network of over 100 operations buildings across the country.

The investment will create thousands of new permanent, full-time jobs in the UK, with the vast majority outside of London and the South East.

These include 2,000 jobs at the previously announced state-of-the-art fulfilment centre in Hull and 2,000 jobs at another in Northampton, plus additional positions at new sites in the East Midlands and at delivery stations across the country.

The investment also includes part of the £8 billion previously announced in September 2024 for building, operating, and maintaining data centres in the UK. This will support the UK’s ambition to increase AI compute capacity and meet the growing demand for cloud and AI technologies, while creating thousands of skilled jobs in the tech supply chain.

Alongside the planned creation of the new operations facilities, the investment will also go towards the redevelopment of the historic Bray Film Studios in Berkshire, continued investment in multimillion-pound skills and training programmes, and landmark original TV and film productions.

This announcement is the latest sign that the government’s Plan for Change is working – making Britain the best place to do business, creating jobs, and putting more money in working people’s pockets.

It follows the publication of the modern Industrial Strategy, which marks a new era of collaboration between government and high growth industries slashing energy bills for industry, increasing skills, and boosting investment to unlock the UK’s economic potential.

Prime Minister Keir Starmer, who met Amazon’s CEO last week ahead of the announcement, said:

Amazon’s £40 billion investment adds another major win to Britain’s basket and is a massive vote of confidence in the UK as the best place to do business.

It means thousands of new jobs—real opportunities for people in every corner of the country to build careers, learn new skills, and support their families.

Whether it’s cutting-edge AI or same-day delivery, this deal shows that our Plan for Change is working—bringing in investment, driving growth, and putting more money in people’s pockets.

Chancellor, Rachel Reeves, said:

This investment is a powerful endorsement of Britain’s economic strengths.

The world is changing, but this Government is working hand in hand with businesses to navigate that change to create jobs, wealth and opportunity in every corner of the country.

Business and Trade Secretary Jonathan Reynolds will visit Amazon’s HQ in London to mark the announcement. There he will meet apprentices to talk about the importance of backing British skills just days after the Government announced a £275 million skills package to boost training and build a skilled workforce of the future.

Business and Trade Secretary, Jonathan Reynolds said:

Our Modern Industrial Strategy will ensure the UK is the best country to invest and do business, and seeing massive international firms like Amazon bank on Britain shows we are on the right track.

This investment will create highly-skilled jobs and boost living standards across the country, and the £100 billion of investment we’ve secured in the past year shows our Plan for Change is already delivering for working people.

Amazon are offering 1,000 new full-time apprenticeship roles this year, and already employs more than 75,000 people in over 100 sites across the UK. This new investment will supercharge its impact on local economies. The data centre investment alone is expected to contribute £14 billion to the UK economy over 5 years (2024-2028) and support 14,000 full-time equivalent jobs each year – many of them in small and medium-sized businesses.

Amazon CEO, Andy Jassy, said:

Amazon has been proud to serve our customers in the UK for the past 27 years. Thanks to their support, we’ve grown to be part of over 100 communities nationwide, from developing drone technology in Darlington to producing world-class entertainment at our studios in Bray. We now employ over 75,000 people and have become one of the UK’s largest private sector employers and taxpayers.

When Amazon invests, it’s not only in London and the South East – we’re bringing innovation and job creation to communities throughout England, Wales, Scotland, and Northern Ireland, strengthening the UK’s economy and delivering better experiences for customers wherever they live.

The announcement comes as UK business confidence hits a nine-month high, according to the latest Lloyds Business Barometer, with optimism boosted by falling interest rates and new trade deals with the EU, US and India – cutting costs for businesses and protecting jobs.

Since the government was elected, interest rates have fallen four times, and the UK started the year as the fastest-growing economy in the G7. The government has also secured three major trade deals with the EU, US and India, which will cut costs for businesses, protect jobs and attract further investment.

The press release issued by the Department for Business and Trade on 24 June 2025.

Twelve exceptional UK-based SMEs have been named today as winners of the Department for Business and Trade’s 2025 Made in the UK, Sold to the World Awards.

• Twelve SMEs announced as winners of the 2025 Made in the UK, Sold to the World Awards
• Now in their third year, the awards celebrate outstanding small businesses achieving exporting success
• Winning entries highlight the UK’s strength in sustainability and AI innovation

From ethical metal recycling to AI-driven edtech and digital identity, twelve exceptional UK-based SMEs have been named today as winners of the Department for Business and Trade’s (DBT) 2025 Made in the UK, Sold to the World Awards.

Now in their third year, the awards celebrate the international growth of the UK’s most dynamic small businesses. While the awards naturally reflect the sectoral diversity of British innovation, this year’s winners signal a global appetite for UK leadership in two high-growth areas: sustainability and artificial intelligence. From Osbit’s offshore wind infrastructure to Twin Science’s gamified climate action kits and ubloquity’s AI-enhanced trade platform, British SMEs are exporting solutions to tackle some of the world’s most urgent challenges.

Gareth Thomas, Minister for Services, Small Businesses and Exports, said:

The innovation and entrepreneurship shown by the businesses entering the Made in the UK, Sold to the World Awards demonstrate the best of British business.

When small businesses export, the whole economy benefits. By celebrating the outstanding international trade achievements of UK SMEs, we hope to encourage more businesses to get on the exporting ladder and take the best of Britain to markets around the world.

This year’s winners were chosen from hundreds of entries across 12 sector-focused categories, including two new areas—Digital & Technology and Export Services—introduced to reflect evolving global opportunities. Each category includes one winner and up to three highly commended businesses.

In the Digital & Technology category, Porotech stood out for its AR and AI-powered wearables, with 90% of revenue from exports and partnerships with Amazon, Microsoft and Foxconn. Twin Science & Robotics, winner in Education & EdTech, exports to over 40 countries and has seen 70% annual revenue growth through its STEM kits focused on AI, robotics and climate literacy.

Sustainability also remains a major theme across the winners. Osbit, winner in Low Carbon Energy, delivers mission-critical offshore wind technology, with 65% of revenue from exports. Meanwhile, Avon Specialty Metals, recognised in Advanced Manufacturing & Construction, recycles high-performance metals and alloys and has grown international sales by 192% over three years.

Winners like Gerald McDonald & Company (Agriculture, Food & Drink) and LIMB-art (Healthcare) underscore the global demand for British-made, high-quality products. From innovative prosthetics to premium fruit derivatives, these SMEs prove that exporting drives resilience, expansion and innovation.

This year’s winners will receive a bespoke promotional package, including a one-year membership to the Chartered Institute of Export & International Trade, a working capital masterclass with Lloyds Bank, an invitation to the winners’ reception in London, professional photography of their business, bespoke promotion on DBT channels and a digital badge, certificate and trophy to commemorate their achievements.

By creating jobs, driving innovation and exporting world-class British products and services, these businesses are making a vital contribution to the Government’s mission to go further and faster for economic growth as part of its Plan for Change.

A key part of this mission is supporting SMEs to grow, scale and enter global markets—recognising that when more businesses trade internationally, the entire UK economy benefits. Exporting supports a fifth of UK employment1, paying on average 7% higher wages2 and delivering 21% higher productivity for goods exporters3.

To help achieve its mission, the Government recently revamped the Board of Trade to boost SME exports and will soon launch its Trade Strategy. This will set out its approach to maximising export opportunities, including those arising from recently signed agreements with India, the US and the EU.

2025 Winners of the Made in the UK, Sold to the World Awards:

• Advanced Manufacturing & Construction – Avon Specialty Metals (Gloucester): Selling to 20+ countries with exporting accounting for 31% of revenue from sustainable alloy/metal recycling and AI-driven processing
• Agriculture, Food & Drink – Gerald McDonald and Company Ltd (Basildon, Essex): World’s largest supplier of premium Japanese yuzu juice, exporting to 4 continents
• Consultancy & Professional Services – Champions Speakers (Loughborough): Exporting to 66 countries, 122% growth in two years
• Creative Industries – Luminous Show Technology (Exeter): Special effects hardware used in Harry Potter and the Commonwealth Games, with 35% export revenue
• Digital & Technology – Porotech (Cambridge): 90% export revenue; cutting-edge AR and AI display tech
• Education & EdTech – Twin Science & Robotics Ltd (London): STEM tools used in 40+ countries, 93% export revenue
• Financial Services & FinTech – Ozone Financial Technology Ltd (London): Exports to 15 countries; 77% of revenue from international markets
• Healthcare – LIMB-art (Conwy, Wales): Stylish prosthetics sold in 10 countries; 30% of revenue from exports
• Infrastructure & Engineering – Maritime Developments Limited (Aberdeen): 92% export revenue from offshore energy tech
• Low Carbon Energy – Osbit (Riding Mill, Northumberland): Bespoke offshore wind equipment exported to 9 countries
• Retail & Consumer Goods – Jenolite UK Ltd (Biggleswade, Bedfordshire): Iconic rust removal brand exporting to 50+ countries, with £2.9M in export revenue
• Export Services – ubloquity (Scarva, Northern Ireland): AI, blockchain and digital identity solutions empowering businesses to scale globally

2025 Highly Commended Businesses:

• Advanced Manufacturing & Construction – Bespoke Stairlifts (Huddersfield), Delta-Xero Distribution Ltd (Fareham), John King Chains (Leeds)
• Agriculture, Food & Drink – Evenproducts Ltd (Evesham), PBS International (Crawley), Nourished (Birmingham)
• Consultancy & Professional Services – Jean Edwards Consulting (Brighton), Landell Mills (Wiltshire), The Config Team (Cumbria)
• Creative Industries – Jesmonite (Shropshire), Rainbow Productions (London), Wild Creations (Cardiff)
• Digital & Technology – Hitomi Broadcast (Maidenhead), iLivestock (Dunfermline), uqudo (Manchester)
• Education & EdTech – Alphablocks (London), Learning Resource Network (London), Lincoln College (Lincoln)
• Financial Services & FinTech – Bueno Europe (Birmingham), Hoptroff (London)
• Healthcare – Black Space Technology (Birmingham), Birmingham Biotech (Birmingham), Novocuris (London)
• Infrastructure & Engineering – Rosehill Polymers (West Yorkshire), Direct Access (Nantwich), Atmos International (Manchester)
• Low Carbon Energy – Munro Vehicles (Glasgow)
• Retail & Consumer Goods – RSscan Lab (Ipswich), Dr.PAWPAW (London), The British Hamper Company (Lincoln)
• Export Services – Intralink (Oxford), Abex Infoway Europe Ltd (London)

The press release issued by the Department for Business and Trade on 23 June 2025.

Business leaders have welcomed the government’s modern Industrial Strategy – a 10-year plan to promote growth.

Business leaders from across the UK have welcomed the government’s modern Industrial Strategy. The Strategy is a 10-year plan to promote business investment and growth and make it quicker, easier and cheaper to do business in the UK.

The plan focuses on 8 sectors where the UK is already strong and there’s potential for faster growth: Advanced Manufacturing, Clean Energy Industries, Creative Industries, Defence, Digital and Technologies, Financial Services, Life Sciences, and Professional and Business Services.

Joint statement from business groups:

“The Industrial Strategy launched today marks a significant step forward and a valuable opportunity for the business community to rally behind a new vision for the UK—boosting confidence, sentiment, and enthusiasm for investment.

“From start-ups and small businesses to large corporates, businesses need a more attractive, stable environment that enables faster, easier, and more certain investment decisions.

“We welcome the Government’s engagement with businesses across the UK. Much of what we’ve shared has been heard and reflected in this strategy. While there’s more to do, we are ready to support the next steps.

“We encourage businesses nationwide to get behind this strategy and champion the UK as the best place to live, work, invest, and do business.”

Statement on behalf of:

• Shevaun Haviland, Director General, British Chambers of Commerce
• Rain Newton-Smith, Director General, Confederation of British Industry
• Aaron Asadi, Chief Executive Officer, Enterprise Nation
• Tina McKenzie, Policy and Advocacy Chair, Federation of Small Businesses
• Stephen Phipson, Chief Executive Officer, Make UK
• Michelle Ovens, Founder, Small Business Britain
• Dom Hallas, Executive Director, Startup Coalition

Advanced Manufacturing

Dr Hayaatun Sillem CBE, Chief Executive, Royal Academy of Engineering:

“We are delighted to see the announcement of new skills packages for tech, engineering and defence, recognising that the Industrial Strategy’s objectives simply cannot be delivered without a significant boost to investment in our engineering and tech talent base. These packages provide a much-needed opportunity for government to take a holistic view of the rapidly changing skills landscape, and to work with partners across industry and professional bodies to make sure the UK tackles its longstanding skills and diversity deficits in these crucial areas. Today is International Women in Engineering Day – a reminder that we still have much to do to deliver equitable participation in these high-value jobs, and better outcomes for people from all parts of the UK.

“The Royal Academy of Engineering looks forward to supporting government in taking forward these recommendations, including through our new Skills Centre. We also welcome the publication of the Technology Adoption Review and hope that this will result in meaningful action to increase the capacity of the UK’s industrial base and public sector to deploy existing technologies at the scale and pace demanded in today’s tech-driven world.”

John Harrison, General Counsel and Head of Public Affairs, Airbus:

“Airbus welcomes the UK’s modern Industrial Strategy. Having worked closely with the Government to help shape this plan, we are delighted to see it deliver a long-term vision, built on a genuine partnership with industry.

“The firm long-term commitment to the full innovation lifecycle, from R&D in the Aerospace Technology Institute to a focus on commercialisation and supply chain resilience, provides the confidence and stability needed to fuel innovation and anchor high-value manufacturing in the UK for decades to come. The significant new investment in skills is also critical, creating a strong pipeline of engineering and digital talent, which will be the foundation for developing the sustainable technologies of the future, from hydrogen-powered aircraft to next-generation space systems. We stand ready to help turn this ambitious strategy into a reality for British industry.”

Clean Energy

Dhara Vyas, CEO, Energy UK:

“Energy UK welcomes the Government’s new Industrial Strategy and Clean Energy Industries sector plan, which rightly recognise the pivotal role energy will play across the whole economy, powering growth through digitalisation and electrification, boosting regional prosperity and delivering economic security and resilience.

“Stable, affordable energy prices will help ensure that the UK remains a competitive place to do business, and in an increasingly uncertain global operating environment, clean power will deliver energy security. Focussing on priority technologies where the UK has global expertise will deliver a strong competitive advantage for our businesses and economy.

“We know the investment necessary to decarbonise the economy will mostly be funded by the private sector. Clarity on Government policy, removal of the barriers to investment and targeted support are all essential to meet this ambition.”

Sue Ferns, Senior Deputy General Secretary, Prospect Union:

“Boosting clean energy is not only an important mission in its own right, it is central to the success of every other sector. It is welcome to see the government doubling down on this mission, focusing investment on key technologies like renewables and nuclear energy, and recognising the key role that trade unions play as partners in this strategy.

“Securing the investment is important, but perhaps the biggest challenge in this area is around the workforce. The energy workforce is undergoing an unprecedented transition, which creates opportunities for many but also serious challenges that need to be addressed.

“Delivering on this strategy in a way which creates prosperity and supports jobs will require the government’s forthcoming energy workforce plan to be as ambitious as possible and fully backed by all parts of government.”

Martin Pibworth, Chief Executive Designate, SSE plc:

“The government’s industrial strategy is a welcome signal of long-term thinking and ambition – doubling down on homegrown energy is the right thing for security, resilience and affordability, making the most of the UK’s competitive geographical and technical advantages in renewables in particular. It’s exactly the kind of commitment that gives industry the confidence to deliver at pace and scale, and with important decisions on energy policy expected in the weeks ahead, we hope to see a continued focus on unlocking investment that drives growth. As the UK’s clean energy champion, SSE is investing £17.5bn over five years to 2027 – building the infrastructure, creating high-quality jobs, supporting the supply chain and driving the innovation needed to deliver a net zero economy.”

Creative Industries

Caroline Norbury, Chief Executive, Creative UK:

“The Sector Plan signals that the creative industries are central to the UK’s growth story. From freelancers to scale-ups, this is a step towards the joined-up support our sector needs – and Creative UK stands ready to work with government and industry partners to turn ambition into action.

“As we move into delivery mode, it’s essential that all parts of the sector – from cultural organisations to creative tech firms – are empowered to grow, invest and contribute fully to the UK’s economic future.”

Dana Strong, Sky Group CEO:

“We warmly welcome the Government’s support for the UK’s creative industries in today’s Industrial Strategy. The media and entertainment sector is a cultural powerhouse and a key driver of growth, with the potential to add £10 billion to the economy and create 40,000 jobs by 2033. Seizing this opportunity is vital to maintaining the UK’s global leadership in creativity.”

Alison Lomax, Managing Director, YouTube UK & Ireland:

“We welcome the Creative Industries Sector Plan’s commitment to a robust framework for creatives across the UK. It’s particularly encouraging to see the government acknowledge the digital creator economy’s vital role in driving growth for our creative industries. By embracing new distribution models that boost our cultural exports, this vision will solidify the UK’s position as a global cultural superpower.”

Defence

David Lockwood OBE, CEO, Babcock International:

“We welcome the release of the Government’s Modern Industrial Strategy today, setting out the strategic direction for critical sectors including advanced manufacturing, space and nuclear. The Government’s intent to back British businesses and invest in sovereign industries will lay the foundations for economic growth and unleash the potential of the growth sectors to drive prosperity across the UK. We look forward to the publication of the Defence Sector Plan, and working with the Government to bolster the British defence industrial base and safeguard our national and economic security.”

Charles Woodburn, Chief Executive, BAE Systems:

“The UK’s modern Industrial Strategy rightly recognises the importance of investing in skills and developing a workforce for the future. The UK’s defence sector is a powerhouse of skilled employment and training. Across the supply chain, it’s critical that we continue to invest in our people, just as much as we invest in technology, to ensure we can deliver the capabilities our armed forces need to stay ahead in an era of increasing instability.

“That’s why, this year alone, BAE Systems is recruiting more than 2,400 new apprentices and graduates across the UK and we recognise the importance of government, industry and academia working together to develop the talent needed to support this critical high growth sector.”

Paul Livingston CBE, Chief Executive, Lockheed Martin UK & NATO:

“Lockheed Martin welcomes publication of the UK government’s Modern Industrial Strategy and especially its identification of defence, space, and digital technologies as core areas for driving economic growth and expanding mutually beneficial international partnerships with the United States, NATO and their allies. With 28 facilities spanning the length and breadth of the country we’re committed to combining the best skills, expertise and technologies from the UK and the United States to boost capacity, sustain jobs and deliver economic benefits in both countries.”

Digital and Tech

Antony Walker, Deputy CEO, techUK:

“Today, the government has outlined welcome measures to boost confidence for the UK tech sector and the wider economy.

“techUK has long called for the Industrial Strategy to focus on strengthening the conditions for growth of the UK tech sector and accelerating the adoption of new technologies across the economy and public services.

“In an era of rapid technological change, the government must now work in true partnership with business to bolster investment and digital adoption across the whole of the UK economy and secure the country’s competitive advantage in key markets, including semiconductors and AI. techUK, and our members, stand ready to support this government to do so.”

Allison Kirkby, Chief Executive, BT Group:

“Long-term plans which have positive impact pay.

“BT has invested over £24bn in the UK so far this decade and will invest a further £20bn before it’s done, to upgrade the country’s digital infrastructure.

“That’s why we welcome the Government’s Industrial Strategy for the decade ahead.

“And it’s great to see it give telecoms prominence: at the centre of a high-growth sector as well as a lever for growth in the wider economy.

“We look forward to working more with Government on steps they can take to unlock further growth, and make sure the UK’s record-breaking fibre success story is followed fast by an acceleration in 5G too.”

Emily Turner, UK CEO, HSBC Innovation Banking:

“I welcome today’s Industrial Strategy, which sets out positive steps to back the UK’s growth driving sectors, particularly Digital and Technologies. This ten-year strategy will help position the UK as an open and attractive destination for talent and investment, at a time when global competition is particularly acute.  ”We look forward to working closely with our clients and the government to ensure the effective implementation of the sector plans to help realise the full ambition of the UK’s industrial strategy, while ensuring that it remains flexible to keep pace with technological developments.”

Darren Hardman, CEO, Microsoft UK:

“This is a really progressive plan from the Government. Cutting red tape, reducing energy costs, accelerating the delivery of new projects and ensuring the UK has a highly skilled workforce to take advantage of the AI economy. These are all critical factors in encouraging investment from businesses here in the UK and around the world.”

Vishal Marria, Founder and CEO, Quantexa:

“This Industrial Strategy is a key moment for the UK’s growth economy. By addressing structural headwinds like energy costs and grid access, the government is unlocking the potential of British industry. As a UK-founded data and AI company, we welcome the vision to make Britain the best place to build, scale, and invest. Lowering business electricity costs, accelerating clean energy, and prioritising digital skills are vital for sectors like technology, financial services, defence, and advanced manufacturing – all of which will rely on AI and trusted data to compete and lead. This strategy is the bold signal of confidence UK industry has been waiting for.”

Financial Services

Hannah Gurga, Director General, ABI:

“Today’s Industrial Strategy delivers a clear long-term growth vision, commitment to genuine partnership with business and the regulatory certainty firms need to thrive. We’re pleased that financial services has been recognised as a key growth sector and look forward to working with government on the detailed sector plan.

“The expansion of the British Business Bank’s capacity and its new £6.6 billion growth-capital commitment will unlock vital funding to support smaller UK businesses and drive growth.”

Miles Celic OBE, Chief Executive Officer, TheCityUK:

“The ambitions of today’s Industrial Strategy are laudable, highlighting the priorities for national growth.  Financial and related professional services are crucial to its success, from unlocking private capital for innovative businesses to increasing investible opportunities across the regions and nations.

“We believe that supporting growth across whole country is particularly important and we are pleased to see the establishment of the Strategic Investment Opportunities Unit within the Office for Investment. This is the first critical step in the proposal we’ve been pushing to attract investors and capital.

“Transforming both the planning and public procurement processes, making it easier for businesses to bring in global talent whilst addressing the skills shortfall here in the UK, and strengthening global market partnerships are vital for future proofing the economy and are steps where our industry has long called for action.

“The detailed delivery plans for each of the eight sectors of the Industrial Strategy will be critical to realising its ambition. We look forward to seeing these. The vital issue now is delivery. We are committed to working closely with government and the regulators on the successful execution of these ambitions.”

James Alexander, CEO, UKSIF:

“We welcome the overarching ambition of the Industrial Strategy, which feels like a generational shift in thinking. This rightly recognises that government and investors need to work in partnership through a shared vision so we can make the UK the ‘sustainable finance capital of the world’.”

Life Sciences

Richard Torbett, Chief Executive, ABPI:

“This strategy sets out a clear vision for how to grow the UK economy and is rightly focused on many of the key inputs the country needs to get right to create the conditions for success. The task now must be to move quickly from planning to delivery, rapidly boosting UK attractiveness for investment and returning the country to international competitiveness.   “For UK life sciences, a successful strategy means ensuring the UK is not only a cutting-edge place to research and develop the medicine of the future, but also a country which seeks to embrace and use the life-changing innovations we are developing. This will be the key litmus test for success in the upcoming life science sector plan and the NHS 10-year plan, where we hope to see more detail.”

Steve Bates OBE, CEO, UK BioIndustry Association (BIA):

“The Industrial Strategy has prioritised the life sciences sector because it will disproportionately drive economic growth over the next decade and help deliver an NHS fit for the future.

“SMEs are the lifeblood of this innovative industry and a strength of the UK ecosystem, securing £3.7 billion investment last year, much of it from overseas. We are on the verge of creating a new generation of globally-impactful companies, so it is a smart move by Government to establish a dedicated support service to help 10–20 high-potential UK life science companies scale, attract investment, and remain headquartered in the UK.

“The £4 billion British Business Bank Industrial Strategy Growth Capital initiative will bring new agility to support fledgling companies and cutting-edge technologies as part of the pro-innovation Industrial Strategy. We look forward to working closely with the Bank as they establish this programme for our sector.

“These, alongside improved health data resources for innovators, faster clinical trials, more streamlined and joined-up medicines regulation and access pathways, and investments in medicines manufacturing, mean this Industrial Strategy and the upcoming Life Sciences Sector Plan deliver across the breadth of BIA’s priorities on behalf of our members. These plans are just the beginning, however, as we will now get down to the serious work of delivering these commitments in partnership with the Government.”

Professor Andrew Morris CBE FRSE PMedSci, President, Academy of Medical Sciences:

“Today’s Industrial Strategy represents a significant step forward for UK life sciences – placing the sector at the heart of our economic future and recognising health and wealth are inseparable. This bold vision acknowledges what the Academy of Medical Sciences has long argued: that our world-leading research institutions, the NHS and our exceptional scientific talent can drive national and regional renewal in ways no other sector can match.

“We are particularly encouraged by the Government’s ambitious goal to make the UK the leading life sciences economy in Europe by 2030, and the third most important globally by 2035. This scale of ambition, combined with over £2bn of committed funding, demonstrates the recognition that life sciences uniquely delivers both economic prosperity and improved health outcomes for all.

“The strategy’s focus on pillars for the life sciences – supporting world-class R&D, making the UK an outstanding place to start and grow life sciences businesses, and driving health innovation through NHS reform – provides the framework needed to unlock the sector’s full potential. We welcome the commitment to continue investing in discovery research alongside applied sciences, ensuring we maintain curiosity-driven research that underpins future breakthroughs.

“Alignment with the forthcoming NHS 10-Year Health Plan offers unprecedented opportunity to ensure that cutting-edge innovations deliver rapid benefits for patients whilst driving economic growth. We look forward to the detailed life sciences sector plan that will translate these ambitions into action, and will continue working with Government to deliver this vision where scientific excellence drives both patient benefit and national prosperity as the UK achieves its full potential as a global leader in life sciences.”

Professional and Business Services

Malcolm Gomersall, CEO, Grant Thornton UK:

“The publication of the Industrial Strategy is a welcome step forward in setting out a clear, long-term path for growth in the sectors that are powering our economy.

“The strategy and the Professional and Business Services plan reflect our own investment priorities for the future, such as increased tech and AI adoption, fostering a highly skilled workforce in areas such as cyber security, digital and net zero transition and growing our specialist capabilities which support the expansion of our clients into international markets. I welcome the clear intention that the wider sector deliver this strategy in partnership with the Government through the Professional and Business Services Council.

“As an employer of over 5,500 people in one UK’s fastest growing and most resilient sectors, ourown journey and track record over recent years has been remarkable. To achieve our ambitious growth plans, we know that we need to continue investing in the future, which means ensuring our people have the right skills and tools for a new era of business.”

Jon Holt, Group Chief Executive and UK Senior Partner, KPMG:

“The UK is the second-largest exporter of professional and business services, making our industry central to this country’s economic strength. We are at the forefront of the AI revolution, we are major employers of diverse talent and we support businesses of all sizes across the country. As a global success story it’s only right that we’re recognised as a high growth sector.

“This industrial strategy makes bold choices and sets clear priorities. Its impact will come from a genuine partnership between Government and business, working together on wins to really unlock the growth, profitability and investment that will shape the UK’s future.”

Rachel Taylor, Government and Health Industries Leader, PwC:

“An industrial strategy without business is just a wish list. The UK Government’s new strategy sets a welcome direction – and business stands ready to turn ambition into action.

“Skills are the new growth currency. The Strategy sets out a bold plan to close the UK’s skills gap, and this will make important steps in addressing business leaders’ concerns that we are losing top talent to other countries. We must work together – government, business and our world-class education institutions – to build the workforce of the future and keep that talent here.

“Business is ready to lean in. With the right framework, we can unlock investment, drive innovation and deliver the growth and opportunity this strategy sets out to achieve.”

The press release issued by the Department for Business and Trade on 23 June 2025.

Joint statement from business groups in support of the Industrial Strategy.

“The Industrial Strategy launched today marks a significant step forward and a valuable opportunity for the business community to rally behind a new vision for the UK—boosting confidence, sentiment, and enthusiasm for investment.

“From start-ups and small businesses to large corporates, businesses need a more attractive, stable environment that enables faster, easier, and more certain investment decisions.

“We welcome the government’s engagement with businesses across the UK. Much of what we’ve shared has been heard and reflected in this strategy. While there’s more to do, we are ready to support the next steps.

“We encourage businesses nationwide to get behind this strategy and champion the UK as the best place to live, work, invest, and do business.”

Joint statement from business groups on behalf of:

Shevaun Haviland, Director General, British Chambers of Commerce

Rain Newton-Smith, Director General, Confederation of British Industry

Aaron Asadi, Chief Executive Officer, Enterprise Nation

Tina McKenzie, Policy and Advocacy Chair, Federation of Small Businesses

Stephen Phipson, Chief Executive Officer, Make UK

Michelle Ovens, Founder, Small Business Britain

Dom Hallas, Executive Director, Startup Coalition

The press release issued by the Department for Business and Trade on 19 June 2025.

Postmasters who suffered financial shortfalls due to the Capture software today have certainty about the structure, scope and eligibility criteria for redress.

• Over £1bn paid out in financial redress to thousands of postmasters across the UK affected by the Horizon IT Scandal as part of our Plan for Change
• Details of the Capture Redress Scheme announced today, marking ongoing commitment to right past wrongs for those affected.
• Scheme to provide fair redress and a common sense approach, with claims reviewed by independent panel.

Postmasters who suffered financial shortfalls due to the Capture software today have certainty about the structure, scope and eligibility criteria for redress.

Capture was a faulty computer system used by postmasters in the 1990s, before the Horizon scandal.

In a move to right the wrongs of the past, the government has set out the details for the Capture Redress Scheme, designed to provide fair compensation for those who suffered financial shortfalls due to the Capture software between 1992 and 2000.

This follows the government’s acceptance of findings from the independent investigation by Kroll Associates, which concluded there was a reasonable likelihood that Capture created financial shortfalls for postmasters.

The scheme is expected to open for applications in Autumn 2025, with an initial phased rollout for 150 claimants to ensure the process is fair, proportionate and accessible before wider implementation.

This announcement follows on the footsteps of the government confirming that £1 billion has paid out in compensation to over 7,300 postmasters affected by the Horizon IT Scandal, and the opening of the Horizon Shortfalls Scheme Appeals process for all eligible postmasters in May.

Post Office Minister Gareth Thomas said:

“We are committed to delivering fair and swift redress for all postmasters affected by Post Office software failures as part of our Plan for Change. Today’s announcement represents another important step in righting the wrongs of the past and rebuilding trust in the Post Office.”

A fair and accessible approach

The Capture Redress Scheme has been specifically designed to address the unique challenges of cases dating back over two decades, where documentation may be limited. The Government will set out funding to cover postmasters’ legal costs in the coming weeks.

The scheme features:

• A straightforward two-stage process: an initial eligibility review followed by an independent panel assessment
• Prompt preliminary payments for eligible claimants, ensuring early acknowledgement of loss
• A holistic assessment approach that considers both financial losses and wider personal impact
• A guided scoring and banding model for consistency in awards while maintaining flexibility

Who can apply

Postmasters are eligible to apply if they:

• Were a postmaster between 1992 and 2000
• Used the Capture system in their branch
• Suffered a financial shortfall as a result of a Capture software error

Applications from relatives of deceased postmasters or those needing additional support will also be accepted.

Independent assessment

All eligible claims will be reviewed by an independent panel of experts operating entirely separately from government. The panel will:

• Take a holistic view of each claim, avoiding drawn out legal processes and providing fair redress even where evidence is low.
• Use a balance of probabilities standard of proof
• Recommend appropriate payment levels
• Provide claimants the right to appeal in certain circumstances

Notes to editors

1. The Capture system was used in Post Office branches between 1992 and 2000, predating the better-known Horizon system.
2. Those with criminal convictions related to Capture should pursue their cases through the Criminal Cases Review Commission (CCRC) or its Scottish equivalent.
3. Further details on applying to the Capture Redress Scheme will be published in the coming months.

The press release issued by the Department for Business and Trade on 9 June 2025.

More than £1 billion has been paid out to over 7,300 postmasters affected by the Horizon IT scandal – one of the biggest miscarriages of justice of our time.

• Today’s data reveals over £1bn has been paid out in financial redress to thousands of postmasters across the UK
• This includes £245m in the Horizon Convictions Redress Scheme launched last summer
• Redress for victims of Horizon scandal has more than quadrupled under this government – delivering on a key manifesto commitment

More than £1 billion has been paid out to over 7,300 postmasters affected by the Horizon IT scandal – one of the biggest miscarriages of justice of our time.

This figure is a total across the Horizon-related redress schemes, with data published by the government today (Monday 9 June).

This milestone marks the Government’s ongoing commitment to deliver redress and justice to postmasters as swiftly as possible. Whilst Government cannot fully put right what postmasters have been through, what is being delivered is increased redress and ensuring the compensation process work better than it has done previously.

Post Office Minister Gareth Thomas said:

Since entering government, it has been our priority to speed up the delivery of compensation to victims of the Horizon Scandal and today’s milestone shows how much progress has been made.

We are settling cases every day and getting compensation out more quickly for the most complex cases, but the job isn’t done until every postmaster has received fair and just redress.

Since entering government, redress paid out to victims of the Horizon Scandal has more than quadrupled to £1,039 million, delivering on a key manifesto promise to ensure justice and compensation are delivered swiftly for those sub-postmasters shamefully affected by the Horizon IT scandal.

Ministers continue to review each scheme to ensure the process is as smooth as it can be, and welcome feedback and scrutiny from postmasters, campaigners and Parliament and recognise the tireless campaigning in this area over many years. Reforms to increase the roll out of redress has included the following steps.

Since July 2024, the government has also launched the Horizon Convictions Redress scheme – providing redress to postmasters who had their convictions overturned by the Post Office Offences Act (and the equivalent legislation in Scotland) and also launched the Horizon Shortfall Scheme Appeals process.

In March, Ministers made a commitment that claims for redress under the Post Office’s Overturned Convictions scheme would be transferred into the Department for Business and Trade (DBT) and the Post Office would cease to be involved in the administration of redress for overturned convictions. This is something that postmasters, campaigners and Parliamentarians have called for. As of 3 June, these cases have all been transferred and all future redress for these claimants will be managed by DBT.

Other milestones include:

• Launching the Post Office Process Review (PPR) helping to provide redress to postmasters who suffered financial losses caused by products, processes or policies that were designed or delivered incorrectly.
• Beginning Horizon Shortfall Scheme fixed-sum payments of £75,000 for those who don’t want to go through the full assessment process.
• Announcing the upcoming publication of a Green Paper which will give the public the chance to have their view on the future of Post Office.
• Committing to develop an effective and fair redress process for those affected by the Capture IT system.

The press release issued by the Department for Business and Trade on 6 June 2025.

Summary of a joint statement following the second meeting of the Australia-United Kingdom Free Trade Agreement Joint Committee on 3 June 2025.

Alongside the OECD 2025 Ministerial Council Meeting held in Paris, Australian Minister for Trade and Tourism, Senator the Honourable Don Farrell and UK Secretary of State for Business and Trade, the Rt Hon Jonathan Reynolds MP, met on 3 June 2025, for the second meeting of the Australia-United Kingdom Free Trade Agreement Joint Committee.

The Ministers celebrated the strong trade and investment relationship between the UK and Australia.  Two-way trade between our economies reached AUD36bn or GBP23bn in 2024.

As of 2024, the stock of UK Foreign Direct Investment in Australia reached AUD156bn or GBP77bn, and Australian Foreign Direct Investment in the UK rose to AUD210bn or GBP104bn – an increase of 6.5% and 11.5% respectively on the previous year.

The strong uptake of the Agreement’s benefits is resulting in real savings for businesses, workers and consumers.

Since entry into force on 31 May 2023, AUD4.7 bn or GBP2.4bn worth of traded goods benefited from preferential tariff access, i.e. around 70% of goods traded between the UK and Australia made use of available preferences.

Between June 2023 and December 2024:

• AUD3.4bn or GBP1.8bn (65%) of eligible goods imports into Australia from the UK made use of an FTA tariff preference.

Had this trade occurred at standard Most Favoured Nation (MFN) tariff rates, up to an additional GBP89m or AUD172m in duties would have been collected.

• GBP662m or AUD1277m (77%) of eligible goods imports into the UK from Australia made use of FTA tariff preferences.

Had these occurred at standard Most Favoured Nation (MFN) tariff rates, up to an additional GBP139m or AUD269m in duties would have been paid.

The Ministers noted that free and inclusive trade is a cornerstone of prosperity in both countries.

Recognising that open markets, and reliable legal and regulatory frameworks are essential for trade, the Ministers committed to strengthening the rules-based trading system.

Ministers also noted progress on recognition of professional qualifications in key sectors through the FTA’s Professional Services Working Group, and the ongoing work under the FTA’s Innovation Chapter to explore the potential for a ‘biobridge’ between our countries to expedite new and innovative medicines, diagnostics, and therapeutics to market.

The Ministers agreed to continue working together to strengthen the role that free trade plays in increasing prosperity and reinforcing resilience against economic turbulence and share the benefits of trade to all including through the World Trade Organization, OECD and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Note to editors:

Figures reported are from UK Official Statistics and Australian official sources.

Australian trade data is sourced from the Australian Bureau of Statistics https://www.abs.gov.au/statistics/economy/international-trade/international-trade-supplementary-information-calendar-year/2024

UK trade data sourced from the ONS publication of UK total trade: all countries seasonally adjusted October to December 2024 data.

Trade asymmetries exist between the UK and Australia official trade statistics, but this does not mean that either country is inaccurate in their estimation. Differences can be caused by a range of conceptual and measurement variations between the estimation practices of different countries.

Investment data is sourced from the Australia Bureau of Statistics https://www.abs.gov.au/statistics/economy/international-trade/international-investment-position-australia-supplementary-statistics/2024

The underlying data for the imports into the UK preference utilisation figures were sourced from HM Revenue and Custom’s (HMRC) UK goods imports by tariff regime, April 2025 data. This data is provided on a country of origin basis.

The methodology used to calculate UK preference utilisation rates can be found here https://www.gov.uk/government/statistics/preference-utilisation-of-uk-trade-in-goods-technical-annex/preference-utilisation-of-uk-trade-in-goods-official-statistics-technical-annex#methodology-note-for-preference-utilisation-of-uk-trade-in-goods

Estimated duty savings are based on exchanged country tariff schedules and preference utilisation data. For UK imports, these are all calculated using the Ad Valorem, Specific, or Compound tariffs applied at the CN8 level. Where appropriate, Ad Valorem Equivalent tariffs were used (source: MacMap). The Bank of England spot exchange rates (June 2023-December 2024) was used to convert from GBP to AUD.

Estimates of Australia’s preference utilisation and duty savings for the June 2023 to December 2024 period are drawn from Department of Foreign Affairs and Trade calculations using ABS trade data and DFAT tariff schedule data.

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Investment data is sourced from the Australian Bureau of Statistics.

UK-AUS total goods trade values may not equal the sum of UK goods imports and AUS goods imports due to rounding and methodological differences in calculating preference eligible imports.

The press release issued by the Department for Business and Trade on 5 June 2025.

The government has announced the launch of the revamped Office for Investment.

• Bolstered OfI redoubles UK efforts to secure investment to drive economic growth as part of Government’s Plan for Change.
• Since taking Office, Government has welcomed around £100bn in investment into the UK, with employment rising by almost 500,000 jobs.
• New office ensures investment pitch aligns with UK’s modern Industrial Strategy, targeting investors in high-growth and foundational sectors.
• Minister for Investment launches new Office with pitch to staff after PwC Survey rates UK as the 2nd best place in the world to invest.

The UK’s highest growth sectors are gearing up for an inward investment boost as a new, revamped Office for Investment will provide enhanced high-end investor relations, commercial support and tailored opportunities for those looking to invest in the UK.

Today [5 June], Minister for Investment Baroness Gustafsson CBE will launch the new Office for Investment which will be laser-focused on securing investment to drive economic growth, job creation and productivity across the UK, as part of the Government’s Plan for Change.

The enhanced Office for Investment will be aligned with the Government’s upcoming modern Industrial Strategy, prioritising growth-driving sectors ranging from defence to clean energies, as well as foundational sectors such as steel, critical minerals and logistics.

It will also actively pursue and manage major investment projects that support national growth missions and infrastructure strategies, helping to make the UK the best investment destination in the world.

Minister for Investment Baroness Gustafsson CBE said:

Securing investment is an integral part of this government’s Plan for Change, so I’m thrilled the Office for Investment will help drive even more investment into the UK, supporting job creation and boosting wages.

Aligning with our upcoming modern Industrial Strategy, the OfI will deliver long-term growth right across the UK by providing support and stability for investors, giving them the confidence to plan not just for the next year, but for the next 10 years and beyond.

By aligning investment resources under a single brand, the new Office for Investment will reduce confusion for investors and become increasingly proactive both at home and overseas in search of new potential investors for the UK.

This announcement follows last year’s record-breaking International Investment Summit where the UK attracted £63 billion of new investments creating 38,000 jobs across the country.

This builds on the latest PwC Global CEO Survey which rated the UK as the 2nd best place in the world to invest, after the USA.

CEO of the London Chamber of Commerce and Industry Karim Fatehi OBE said:

Setting a new course for the Investment Office has the potential to drive greater investment in London and the rest of the UK – creating jobs, building businesses and supporting economic growth. To remain relevant in a competitive market we must create the best conditions for international investors to succeed and prosper in the UK.

The UK is already the most open, stable and connected economy in the world. Securing trade deals with the United States, India and a new agreement with the European Union demonstrates the UK’s commitment to free and fair trade, and how this Government will support real change for the British people as part of the Plan for Change.

The UK continues to attract major investments across a range of sectors, including digital and technology, reinforcing its position as a global innovation hub.

These investments include:

• £24 billion investment pipeline between The Crown Estate and Lendlease, unlocking housing and science innovation hubs, with 26,000 new homes and 100,000 new jobs.
• £1 billion investment by logistics giant DP World to build two new shipping berths at the firm’s London Gateway port, creating more than 400 permanent jobs.
• Universal’s multi-billion-pound investment in a major new theme park and resort in Bedford which is estimated to bring a £50 billion boost for the economy and create around 28,000 jobs across the creative, hospitality and construction industries.
• £10 billion partnership with OCBC, Singapore’s second largest bank to facilitate investment from the Asia Pacific region into priority growth sectors including energy, infrastructure and real estate.
• £4 billion investment by the Malaysian group YTL in the UK over the next five years, which includes transforming the greater Bristol area and delivering over 30,000 jobs across the UK.
• £200 million investment from European defence company MBDA, creating 700 high-skilled jobs in Britain’s defence industry.
• £50m investment deal between JATCO, Nissan and the Government to build a new manufacturing site in Sunderland.
• £170 million investment by international manufacturer Knauf Insulation in a new facility in Shotton, North Wales, creating 140 new jobs.
• £300 million investment from Rolls-Royce in the expansion of their Goodwood facility to meet the growing demand for bespoke upgrades.
• £500 million by JLR in its Halewood facility to enable the production of electric vehicles, alongside existing combustion and hybrid models.
• US company Knighthead’s £3 billion regeneration project in East Birmingham, creating 8,400 new jobs annually, paving the way for a new 60,000-seater stadium alongside a sports campus of training facilities, a new academy, and community pitches.
• Heathrow Airport announcing a multibillion-pound investment programme to expand the airport, including new terminal buildings, aircraft stands, passenger infrastructure and work towards its third runway.
• $5 billion investment from Oracle to expand its cutting-edge cloud infrastructure in the UK – an initiative helping to position the UK at the forefront of the AI revolution.
• Vishay investing £250 million to establish the world’s first compound semiconductor facility.

Notes to editors:

• The Prime Minister also announced plans for an enhanced Office for Investment just before the International Investment Summit, building on the recommendations of the Harrington Review.