The government has said its first international investment summit since Labour’s general election landslide has secured a total of £63bn of pledges to plough money into the British economy.
The investments announced, which include the £63bn of private-sector promises as well as public investment, include:
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£6.3bn on datacentres, including a £1.9bn datacentre campus at Didcot in Oxfordshire.
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£21.7bn on carbon capture and storage, spread over 25 years. This public funding, announced in the run-up to the summit, is expected to leverage in £8bn of private sector investment.
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£24bn on clean energy. This pledge, announced last week, will see Scottish Power’s Spanish owner, Iberdrola, double its green power investment over five years.
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More than £3bn on transport infrastructure, including DP World investing up to £1bn in its London Gateway container port operation, after a controversial row with the transport secretary, Louise Haigh. Manchester Airports Group is investing more than £1.1bn in London Stansted airport.
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£27.8bn in public investment, representing the total funds managed as Labour’s national wealth fund is merged with the existing UK Infrastructure Bank. The combined entity will be based in Leeds.