Keir Starmer international investment summit speech: Key points and stream

Prime Minister Keir Starmer spoke today at the government’s major international investment summit taking place in central London, where billions of investment across multiple sectors is set to be unveiled.

The high-profile summit has been in the works for months, in a bid to crowd in investment and show early progress on Labour’s key mission pledge to deliver strong economic growth.

It comes as all of Whitehall gears up for the Budget later this month – the first since Labour’s return to power in July.

10.56am: Unite reacts

In reaction to the government’s green paper on establishing an industrial strategy, Unite general secretary Sharon Graham said: “Today is an important step forward. An effective industrial strategy is essential if the UK is to meet its growth targets and create the jobs of the future.

“The failure of the previous government to establish a strategy was a gross dereliction of duty. As a result, investment in the UK now lags far behind the rest of the G7.”

10.54am: Growth mission

Starmer is now speaking at a Q&A panel at the investment summit. He is asked what he most wants to have achieved. The PM says the “number one” issue is economic growth.

He says: “You’ve got a government with strategic, long-term vision which is around a very clearly defined mission.”

10.32am: Tearing up red tape

The Prime Minister confirms his commitment to reforming regulation to meet the needs of economic growth.

He says: “We will rip up the bureaucracy that blocks investment. We will march through the institutions and make sure that every regulator in this country, especially our economic and competition regulators, take growth as seriously as this room does.”

10.29am: New Deal for Workers

Starmer addresses the concerns some investors might have about the workers’ rights reforms brought before parliament last week.

He calls the measures pro-growth, describing it as a “better growth model for this country.”

10.27am: Modern industrial strategy

Starmer told investors Labour is not ‘picking winners’, but ‘building on our strengths’ and making firms ‘match-fit’, and he doesn’t know why that’s ‘controversial’.

Right on cue, the government has launched a consultation here on its draft ‘modern industrial strategy’, named ‘Invest 2035’.

The green paper says it’s a ‘credible 10-year plan’ focused on high-growth sectors key to the government’s growth mission, aiming to ‘spur’ UK firms to invest and ‘capture’ international investment.

It namechecks eight sectors dubbed key to the UK’s future: advanced manufacturing, clean energy industries, creative industries, defence, digital and technologies, financial services, life sciences, professional and business services.

10.22am: Backing Britain

Starmer adds: “We can and we will, and to give you total confidence that this is the moment to back Britain.”

10.19am: The importance of stability

Starmer continues: “When working people benefit from that growth, when every community, enjoys a fruits of wealth creation, it stops a country, turning in on itself and against the world.”

“It’s not just that stability leads to growth – though we all recognise that – it’s also that growth leads to stability,” he adds.

10.16am: “Growth is the cause that binds us together”

Starmer talks about his government’s mission for growth.

He says: “Growth is higher wages. Growth is a more vibrant High Street. Growth is public services back on their feet. It’s less poverty. It’s more opportunity.”

10.14am: Starmer speaking now

The Prime Minister is now speaking to investors.

“It’s fantastic to stand here and to look out and see so many of you here. And I’m really grateful that you made the effort, and you are here, it means a huge amount to me and my government,” he says.

“You made a huge effort to share with us the precious gift of your time, and we’re really, really grateful for that.”

10.11am: Industrial strategy

Reynolds adds: “Crucially, the delivery of our industrial strategy is not limited to one or two departments, it is a complete cross government effort.”

10.05am: Britain is back

Business Secretary Jonathan Reynolds is addressing investors now. He says: “As I open this summit, my message to you, to investors and businesses based here and abroad is this. The UK is back. It’s back at the global table.”

10.01am: Adjoa Andoh introduces

Actor, writer, director and producer Adjoa Andoh is opening the investment summit. “There is a huge task of renewal awaiting us,” she says.

9.58am: Starting soon

Starmer’s speech to investors should be starting shortly. Stay tuned for live updates.

9.44: Avoiding issues

While the summit is hoped to be a big triumph for Keir Starmer, the government will no doubt be hoping the row over DP World will not overshadow today’s proceedings.

9.26am: “Britain is open for business”

9.15am: Starmer gets ready

In a social media post ahead of his big speech, the Prime Minister said: “My government’s number one mission is economic growth. To grow our economy, we need high quality, long-term investment. That means creating a new partnership with businesses, and making sure Britain is the best place in the world to invest.”

8.30am: Bonfire of regulation

In his speech this morning, the Prime Minister is expected to say: “We will rip out the bureaucracy that blocks investment and we will make sure that every regulator in this country take growth as seriously as this room does.”

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