Starmer told captains of industry that his recently elected Labour government would "rip out the bureaucracy that blocks investment" and pledged to slash red tape. The premier -- treading a tricky path to be both pro-business and also pro-worker, with a series of new workplace safeguards for employees -- has placed great importance on the International Investment Summit in London. The government said the summit had helped raise £63 billion ($82 billion) of foreign investment in UK projects, which the government hopes will overshadow its chaotic build-up. "Private-sector investment is the way we rebuild our country and pay our way in the world. Reeves told the summit she would cap corporation tax at 25 percent for the entire five-year parliament.

Source: The Times October 14, 2024 17:24 UTC