Rishi Sunak unveils £29.5bn of investments ahead of Hampton Court summit

British Prime Minister Rishi Sunak announced a £29.5bn investment programme on Monday ahead of the Global Investment Summit held at Hampton Court Palace.

Sunak said investments had been secured for projects in tech, life sciences, infrastructure, housing, and renewable energy – creating roughly 12,000 new jobs and driving growth across the country.

The investment package, which was triple the sum raised at the last Global Investment Summit, follows the government's new £4.5bn Advanced Manufacturing Plan, a £2.0bn investment from Nissan which will secure thousands of jobs in Sunderland, and a new Investment Zone in the North East which will create 4,000 jobs.

Sunak said: "Today's investments, worth more than £29.0bn, will create thousands of new jobs and are a huge vote of confidence in the future of the UK economy. Global CEOs are right to back Britain - we are making this the best place in the world to invest and do business.

"Attracting global investment is at the heart of my plan for growing the economy. With new funding pouring into key industries like clean energy, life sciences, and advanced technology, inward investment is creating high-quality new jobs and driving growth right across the country."

The new wave of investments comes after Chancellor Jeremy Hunt unveiled the biggest business tax cut in modern history at last week's Autumn Statement.

Reporting by Iain Gilbert at Sharecast.com