UK politics live: Ex-Google chief ‘shocked’ by Starmer push for growth as Reeves warned on national insurance
Keir Starmer and Rachel Reeves to promise to ‘rip out bureaucracy’ in keynote speech to business owners
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Sir Keir Starmer had a playful moment with ex-Google boss Eric Schmidt today as the tech veteran said he was “shocked” at the prime minister’s drive for growth in the UK.
The pair were speaking on a panel at the International Investment Summit following Sir Keir’s speech to business leaders in the audience. Tech and AI were key topics of discussion as the PM highlighted reasons to invest in the UK.
It came after Sir Keir took a subtle swipe at former prime minister Boris Johnson in his speech, attempting to woo potential investors by criticising the “circus” that followed Brexit and led to less confidence in the UK.
He then joked about Mr Johnson’s infamous “f*** business” comments, saying there will be no more “needlessly insulting our closest allies. And of course a few choice Anglo Saxon phrases for business.”
Sir Keir Starmer also pledged to slash regulation that “needlessly holds back investment” during his speech, unveiling more than £50 billion in investment deals in AI, life sciences and infrastructure.
After a chaotic first 100 days in government, Sir Keir pitched that Labour’s historic election win has given the government a “golden opportunity” to end “chop and change, policy churn and sticking plasters” that are scaring investors.
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Sir Keir Starmer described Labour’s first 100 days in power as “bumpy” but said he is “happy” with what his party has achieved so far. The prime minister referenced “bumps and sidewinds” in the first three months in government, referring to the Labour donation row and the Sue Gray saga, when he appeared on the BBC’s Newcast, released today (12 October). Sir Keir said investment in the UK from companies such as Amazon, is proof that Labour’s “tough decisions” on the economy are beginning to “trigger investment”. The prime minister said: “This is proof to me that the steps we are taking are having effect.”
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Starmer to unveil investment deals
Sir Keir Starmer will pledge to get rid of regulation that “needlessly holds back investment” at a major business conference on Monday.
The Government is expected to unveil investment deals worth billions in AI, life sciences and infrastructure at its first International Investment Summit.
A row over criticism of P&O Ferries that reportedly jeopardised a £1 billion investment by its Dubai-based owner DP World has been smoothed over, with the company saying it will attend the conference.
The Government is eager to show it is making progress on its mission to deliver economic growth after marking 100 days in office and ahead of the Chancellor’s first Budget on October 30.
Chancellor Rachel Reeves has warned of “tough decisions” at the spending review as Labour says it needs to plug a £22 billion “black hole” in the public finances left by the Conservatives.
Tories cannot win elections with Badenoch or Jenrick, warns Britain’s top pollster
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‘Absurdity’ for Labour to raise national insurance
It would be “absurdity” for Labour to argue that raising employers’ national insurance contributions in the upcoming Budget is not a breach of their manifesto commitments, a Conservative former minister has said.
Shadow work and pensions secretary Mel Stride also said the Government’s claim that his party left a £22 billion black hole in public finances is “fictitious”.
During Prime Minister’s Questions on Wednesday, Sir Keir Starmer declined to rule out potentially raising employers’ national insurance contributions in the upcoming Autumn budget.
At the general election, Labour said it would not increase taxes on working people and included a commitment not to increase national insurance, income tax or VAT.
Chancellor Rachel Reeves has said the Labour Government inherited a £22 billion “black hole” in the public finances from its predecessors, causing speculation about how she will raise funds.
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Jenrick to make Rees-Mogg Tory party chairman
Robert Jenrick has promised to make Jacob Rees-Mogg Tory party chairman if he wins the Conservative Party leadership election.
Mr Jenrick on Sunday said he would appoint the Boris Johnson loyalist despite him losing his seat in the July election.
“One of my first acts as leader would be to appoint him as chairman of the party so we can truly reform and democratise our party,” Mr Jenrick said.
“Together we will empower members and restore the respect that has been so sorely lacking in recent years,” he added.
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