American investment worth £150bn has been unveiled as part of Donald Trump’s historic second state visit, PA Media reports.
Some 7,600 “high quality” jobs will be created across the country as a result of the influx of cash from big US firms, according to the UK government.
Keir Starmer welcomed the announcement, ahead of a day of high-level discussions with Trump at Chequers tomorrow.
The PM said:
When we back British brilliance, champion our world-class industries, and forge deeper global alliances - especially with friends like the US - we help shape the future for generations to come and make people across the country better off.
These investments are a testament to Britain’s economic strength and a bold signal that our country is open, ambitious and ready to lead.
Jobs, growth and opportunity is what I promised for working people, and it’s exactly what this state visit is delivering.
Among the firms pledging investment in the UK are asset management company Blackstone, which will invest £90bn cash on top of £10bn previously announced to develop data centres.
Others include investment firm Prologis, pledging £3.9bn, and software company Palantir, pledging £1.5bn.
The new flow of cash from the US into the UK comes as Starmer and Trump are expected to sign a new “technology prosperity deal” when they meet tomorrow.
Among those who attended Trump’s state banquet at Windsor Castle were the chiefs of major US tech companies, including Apple’s Tim Cook and OpenAI’s Sam Altman.
When Starmer and the US president meet, they are also expected discuss other means of deepening the economic ties between the UK and US.
An observation and look ahead to tomorrow from Sky News’s international affairs editor Dominic Waghorn:
We will get a first sense of what Britain gets in return for all this tomorrow, the business end of this state visit. What deals have been struck by the tech and business titans President Trump has brought with him? Will there be any sign he has moderated his positions on Ukraine and Gaza? Will he make concessions to the UK on trade?
The real world starts crowding back in on Donald Trump tomorrow afternoon when he faces journalists at a closing press conference.
Two words threaten to upset the president’s mood. Jeffrey and Epstein. The gathering storm surrounding the infamous paedophile soured the mood ahead of this visit and claimed the scalp of Britain’s ambassador in Washington. Could the scandal also upset its outcome?
