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British government secures $13 billion of investments to overcome post-Brexit slump

As PM Boris Johnson is attempting to reverse the post-Brexit freefall in financing, the British government has secured £9.7 billion ($13.4 billion) of new foreign investments. The government is hosting its first ever Global Investment Summit, in a bid to convince the world's largest international investors to pump money into the UK.

Johnson will be hoping to garner support for his government's ‘Global Britain’ agenda in the wake of Brexit. Foreign direct investment into the U.K. having nosedived since the country voted to leave the EU in 2016. The summit comes at a tough time for the UK, which is facing a host of economic crises, including labor shortages, record-high natural gas prices and supply chain constraints.

According to Downing Street, some 18 deals already secured will lead to the creation of least 30,000 jobs and drive funding for key sectors such as hydrogen energy, sustainable housing and carbon capture and storage.

"This is just the start. We will see new partnerships for green growth forged at today's Global Investment Summit, as we look ahead to COP26 and beyond," Johnson said in a statement.

Source: cnbc.com


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