British Prime Minister Keir Starmer was interviewed by the media while attending the 79th Session of the United Nations General Assembly at the United Nations Headquarters in New York, USA on September 25, 2024.
Lionel | via Reuters
Britain is seeking investment from America’s biggest banks and technology giants as it looks to inject growth into a stagnant economy.
“The priority of our current Labor government is wealth creation,” Prime Minister Keir Starmer told CNBC’s Andrew Ross Sorkin in an exclusive broadcast interview on Thursday.
“We are a Labor party that is proud to say we support businesses as much as we support workers.”
In July, Starmer became the first centre-left Labor leader since Tony Blair to win a national election in Britain, ending 14 years of Conservative rule. Since being elected, he has said his top priority is economic stability.
During a visit to New York on the sidelines of the United Nations General Assembly, Starmer met with business leaders including Bank of America CEO Brian Moynihan, Citi CEO Jane Fraser, BlackRock CEO Larry Finn Gram, Microsoft President Brad Smith and Blackstone President Jonathan Gray.
This week, Blackstone commits $13 billion Establishing a data center in the North East of England. The investment aims to create 4,000 jobs and bring One of the largest data centers in Europe Powering the growing demand for artificial intelligence.
“This is a major signal of confidence,” Starmer told Sorkin of the deal. “It’s also in the North East of England which is important to us as I look to drive economic development outside of London.”
Starmer said sectors he was particularly committed to attracting investment included renewable energy, artificial intelligence and life sciences. The call for investment comes as the Labor government prepares to unveil its budget plans in October while grappling with Economic stagnation.
The Starmer government introduced a £22 billion ($29 billion) financing gap after an audit of his government. Conservative former finance minister Jeremy Hunt, July Write to Simon KeyesThe head of the UK civil service has called Labour’s claims about public finances “deeply disturbing”.
Recently, Starmer has been accused of being too negative on the UK economy, while Labor plans to cut the economy UK non-domestic tax regime It has also been criticized.
“We will stabilize the economy,” Starmer said on Thursday. “There are going to be more tough decisions to be made on the budget front.”
Earlier this week, Starmer’s plans to cut fuel bills for pensioners were rejected by his party in a symbolic vote at Labour’s annual conference.
“No one wants to change the winter fuel subsidy for pensioners. But by doing so, we stabilize the economy,” Starmer told Sorkin.
“We can commit to what is called a triple lock, which means they can get more money every year.” The UK’s “triple lock” refers to the state pension rising by 2.5% per year, inflation or income growth – whichever is highest. allow.
