{"id":8255,"date":"2023-11-28T19:51:50","date_gmt":"2023-11-28T19:51:50","guid":{"rendered":"https:\/\/gbc1.net\/?p=8255"},"modified":"2023-11-30T06:37:49","modified_gmt":"2023-11-30T06:37:49","slug":"pm-rishi-sunaks-keynote-address-at-uk-global-investment-summit-2023","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2023\/11\/28\/pm-rishi-sunaks-keynote-address-at-uk-global-investment-summit-2023\/","title":{"rendered":"PM Rishi Sunak&#8217;s Keynote Address at UK Global Investment Summit 2023"},"content":{"rendered":"\n<p>Good morning.&nbsp;<\/p>\n\n\n\n<p>Welcome to Hampton Court Palace and the UK\u2019s second Global Investment Summit (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/gis2023\/\">#GIS2023<\/a>).&nbsp;<\/p>\n\n\n\n<p>Now, my argument today is that the UK is a modern, dynamic, thriving economy.&nbsp;<\/p>\n\n\n\n<p>And where better to prove those futuristic credentials, than a 500-year-old Palace.&nbsp;<\/p>\n\n\n\n<p>But this Summit is not just a sales pitch for Britain\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026although you\u2019d better believe I\u2019m going to give you that.&nbsp;<\/p>\n\n\n\n<p>It\u2019s also a chance for us to say: thank you. &nbsp;<\/p>\n\n\n\n<p>I\u2019ve spent my career before politics in business and finance. &nbsp;<\/p>\n\n\n\n<p>And so have many of my top team, including the Chancellor. &nbsp;<\/p>\n\n\n\n<p>And we know that it\u2019s not governments that grow the economy.&nbsp;<\/p>\n\n\n\n<p>It\u2019s businesses and investors like all of you.&nbsp;<\/p>\n\n\n\n<p>You create jobs; drive growth; generate wealth\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026 and you even take on some of the biggest social challenges we face.&nbsp;<\/p>\n\n\n\n<p>And it may be unfashionable to say\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026but I believe that your success is our country\u2019s success.&nbsp;<\/p>\n\n\n\n<p>So I really am grateful to all of you for making time to be here today.&nbsp;<\/p>\n\n\n\n<p>And your presence\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026your decision to choose to invest in Britain\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026is a huge vote of confidence in this country\u2019s future.&nbsp;<\/p>\n\n\n\n<p>And I think you\u2019re absolutely right to feel that confidence. &nbsp;<\/p>\n\n\n\n<p>Because we\u2019re setting about to make this best place in the world to invest and do business.&nbsp;<\/p>\n\n\n\n<p>Now I am unashamedly proud of Britain.&nbsp;<\/p>\n\n\n\n<p>Ands there\u2019s a growing momentum in the UK right now.&nbsp;<\/p>\n\n\n\n<p>Don\u2019t just take my word for it.&nbsp;<\/p>\n\n\n\n<p>PWC\u2019s survey of thousands of global CEOs rated the UK the most attractive investment destination in Europe.&nbsp;<\/p>\n\n\n\n<p>And you can see that confidence in the decisions people are making.&nbsp;<\/p>\n\n\n\n<p>Like Tata, BMW, and just last week, Nissan \u2013 investing billions into automotive and electric vehicles (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/ev\/\">#EV<\/a>) manufacturing. \u00a0<\/p>\n\n\n\n<p>Or Microsoft, announcing today \u00a32.5bn for critical <a href=\"https:\/\/gbc1.net\/index.php\/tag\/ai\/\">#AI<\/a> infrastructure\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026in addition to all the leading <a href=\"https:\/\/gbc1.net\/index.php\/tag\/ai\/\">#AI<\/a> labs who already have their European offices here.&nbsp;<\/p>\n\n\n\n<p>Or the Ellison Institute of Technology, confirming today a \u00a31bn investment into their new Oxford site..&nbsp;<\/p>\n\n\n\n<p>\u2026researching and developing new technologies, including <a href=\"https:\/\/gbc1.net\/index.php\/tag\/lifesciences\/\">#LifeSciences<\/a>. \u00a0<\/p>\n\n\n\n<p>And you can see that momentum too in our commitment to free trade. &nbsp;<\/p>\n\n\n\n<p>In the past year alone, we\u2019ve secured new investment partnerships with the US, Japan, and South Korea\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026worth more than \u00a350bn.&nbsp;<\/p>\n\n\n\n<p>We\u2019ve become the first European country to join the fast-growing Trans-Pacific Partnership (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/tpp\/\">#TPP<\/a>)\u2026&nbsp;<\/p>\n\n\n\n<p>And hugely benefited from the sovereign investment partnership with the United Arab Emirates\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026deploying over \u00a314bn into the UK in a little over two years. &nbsp;<\/p>\n\n\n\n<p>And all of that is why this country is one of the fastest [for] investment growth\u2026 anywhere in the <a href=\"https:\/\/gbc1.net\/index.php\/tag\/g7\/\">#G7<\/a> &nbsp;<\/p>\n\n\n\n<p>Now when I say this country can be the best place in the world to invest and do business\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026you should believe me and believe me because of three big competitive advantages.&nbsp;<\/p>\n\n\n\n<p>Our low tax approach; our culture of innovation; and our people.&nbsp;<\/p>\n\n\n\n<p>Firstly, tax.&nbsp;<\/p>\n\n\n\n<p>The purest expression of this government\u2019s economic philosophy\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026is that people and businesses make far better decisions about their own money\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026than any government could.&nbsp;<\/p>\n\n\n\n<p>And I believe that by allowing you to keep more of the return on your capital\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026our country becomes more competitive as a place to invest, grow, and create jobs.&nbsp; &nbsp;<\/p>\n\n\n\n<p>And make no mistake, we are cutting taxes. &nbsp;<\/p>\n\n\n\n<p>Not only do we have the lowest rate of Corporation Tax rate in the G7.&nbsp;<\/p>\n\n\n\n<p>Last week, we announced that we would make full expensing, permanent.&nbsp;<\/p>\n\n\n\n<p>This means you can write off the cost of many capital investments \u2013 in full.&nbsp;<\/p>\n\n\n\n<p>It makes our capital allowances regime one of the most generous in the world.&nbsp;<\/p>\n\n\n\n<p>And it was the biggest business tax cut in modern British history. &nbsp;<\/p>\n\n\n\n<p>And that\u2019s not all.&nbsp;<\/p>\n\n\n\n<p>We\u2019ve got lower capital gains tax rates than France, Germany, Italy, and Japan. &nbsp;<\/p>\n\n\n\n<p>Some of the most generous tax reliefs on stock options anywhere in the world. &nbsp;<\/p>\n\n\n\n<p>And we\u2019re cutting personal taxes for 27 million working people, too. &nbsp;<\/p>\n\n\n\n<p>But while low taxes are crucial, they\u2019re not enough on their own\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026to make this country the best investment destination in the world.&nbsp;<\/p>\n\n\n\n<p>We\u2019re also creating new ideas\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026and turning those ideas into the most exciting companies of the future.&nbsp;<\/p>\n\n\n\n<p>And that\u2019s the UK\u2019s second competitive advantage: our incredible culture of innovation.&nbsp;<\/p>\n\n\n\n<p>Now the story of the United Kingdom has always been about discovery and invention.&nbsp;<\/p>\n\n\n\n<p>Ours is the country of Newton, Faraday, Hodgkin, and Lovelace\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026of Stephenson\u2019s steam engine, Darwin\u2019s theory of evolution\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026and the world wide web, invented by Tim Berners-Lee\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026who I\u2019m delighted is attending here today.&nbsp;<\/p>\n\n\n\n<p>And that tradition is still very much alive.&nbsp;<\/p>\n\n\n\n<p>With less than 1% of the world\u2019s population, we have three of the world\u2019s top 10 universities.&nbsp;<\/p>\n\n\n\n<p>The third highest number of research publications.&nbsp;<\/p>\n\n\n\n<p>And the second most Nobel laureates of any nation.&nbsp;<\/p>\n\n\n\n<p>And we\u2019re turning those ideas into incredible businesses, up and down the country.&nbsp;<\/p>\n\n\n\n<p>With more tech Unicorns than any country, bar the US and China.&nbsp;<\/p>\n\n\n\n<p>And more venture capital than France and Germany combined.&nbsp;<\/p>\n\n\n\n<p>Not that I\u2019m in any way competitive.&nbsp;<\/p>\n\n\n\n<p>But at a moment like this, when the tectonic plates of technology are shifting\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026not just in <a href=\"https:\/\/gbc1.net\/index.php\/tag\/ai\/\">#AI<\/a>, but in quantum, synthetic biology, semiconductors, and much more\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026we cannot be complacent.&nbsp;<\/p>\n\n\n\n<p>And that\u2019s why we\u2019re investing record amounts of public capital into R&amp;D.&nbsp;<\/p>\n\n\n\n<p>Also Cutting taxes for all of you that are investing in R&amp;D.&nbsp;<\/p>\n\n\n\n<p>And overhauling our listing rules to make it easier for those innovative growing companies to raise capital.&nbsp;<\/p>\n\n\n\n<p>And outside the EU, we\u2019re delivering agile regulation that is pro-innovation and pro-growth. &nbsp;<\/p>\n\n\n\n<p>So, whether it\u2019s financial services or life sciences\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026AgriTech or our creative industries\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026innovation is the golden thread running through the British economy.&nbsp;<\/p>\n\n\n\n<p>But in the end, the greatest asset to any economy is its people.&nbsp;<\/p>\n\n\n\n<p>And that\u2019s the UK\u2019s third competitive advantage.&nbsp;<\/p>\n\n\n\n<p>Here at home, we\u2019re delivering a world-class education system.&nbsp;<\/p>\n\n\n\n<p>We\u2019ve already got one of the most highly qualified workforces in Europe.&nbsp;<\/p>\n\n\n\n<p>And just as your businesses are having to adapt to the economy of the future, so our skills policies are evolving too\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026with our new Lifetime Skills Guarantee, \u2026which supports adults to retrain at any stage in their careers\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026with record funding in vocational training like apprenticeships.&nbsp;<\/p>\n\n\n\n<p>But we don\u2019t have a monopoly on talent in this country. &nbsp;<\/p>\n\n\n\n<p>And we recognise that nearly half of our most innovative companies have an immigrant founder.&nbsp;<\/p>\n\n\n\n<p>So if you\u2019re an innovator, an entrepreneur, a researcher, &nbsp;<\/p>\n\n\n\n<p>\u2026you should know that the most competitive visa regime for highly skilled international talent\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026is right here in the United Kingdom.&nbsp;<\/p>\n\n\n\n<p>And let me give you just one example:&nbsp;<\/p>\n\n\n\n<p>Our High Potential Individual visa means\u2026&nbsp;<\/p>\n\n\n\n<p>That if you\u2019re a young person\u2026&nbsp;<\/p>\n\n\n\n<p>Who\u2019s graduated from a global top 50 university\u2026&nbsp;<\/p>\n\n\n\n<p>You can just come to the UK\u2026&nbsp;<\/p>\n\n\n\n<p>And stay here, with your family, for two years\u2026&nbsp;<\/p>\n\n\n\n<p>To just explore. Work. Study. Invent. &nbsp;<\/p>\n\n\n\n<p>Nothing like that exists anywhere else in the world.&nbsp;<\/p>\n\n\n\n<p>And that tells you everything about our pro-innovation, pro-growth, pro-business philosophy:&nbsp;<\/p>\n\n\n\n<p>So that\u2019s the opportunity here in the UK. &nbsp;<\/p>\n\n\n\n<p>That\u2019s why you should believe me when I say\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026this is the best country in the world to invest and do business. &nbsp;<\/p>\n\n\n\n<p>Because of that unique combination of a competitive tax system\u2026&nbsp;<\/p>\n\n\n\n<p>Our culture of innovation\u2026&nbsp;<\/p>\n\n\n\n<p>And our people.&nbsp;<\/p>\n\n\n\n<p>Now I know some people look at Summits like this and often they\u2019re all talking shops.&nbsp;<\/p>\n\n\n\n<p>But let me tell you what we\u2019ve achieved.&nbsp;<\/p>\n\n\n\n<p>This Summit has galvanised new investments in the UK economy\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026worth a total of [almost] \u00a330bn, over three times as much as the first Summit that was held a couple of years ago. &nbsp;<\/p>\n\n\n\n<p>That will support tens of thousands of new jobs right across the UK. &nbsp;<\/p>\n\n\n\n<p>It will create new growth and new opportunities. &nbsp;<\/p>\n\n\n\n<p>And it\u2019s a huge vote of confidence in this country\u2019s future.&nbsp;<\/p>\n\n\n\n<p>So, thank you for choosing to be part of that future. &nbsp;<\/p>\n\n\n\n<p>Thank you for everything you\u2019re doing for this country.&nbsp;<\/p>\n\n\n\n<p>with your support\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026we can and we will build an even brighter future\u2026&nbsp;<\/p>\n\n\n\n<p>\u2026for our children and grandchildren.&nbsp;<\/p>\n\n\n\n<p>Thank you.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Prime Minister Rishi Sunak&#039;s speech at the Global Investment Summit\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/Mq-FRZdyVDs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; 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