American investment worth £150 billion has been unveiled as part of US President Donald Trump’s historic second state visit.
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 Government.
Sir Keir Starmer welcomed the announcement, ahead of a day of high-level discussions with Mr Trump at Chequers, the Prime Minister’s country home.
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 £90 billion cash on top of £10 billion previously announced to develop data centres.
Others include investment firm Prologis, pledging £3.9 billion, and software company Palantir, pledging £1.5 billion.
The new flow of cash from the US into the UK comes as Sir Keir and Mr Trump are expected to sign a new technology prosperity deal when they meet on Thursday.
Among those who attended Mr 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 Sir Keir and the US president meet, they are also expected discuss other means of deepening the economic ties between the UK and US.
Reports however suggest that the UK has paused its efforts to cut steel tariffs on imports to the US, which stands at 25%, to zero as originally agreed earlier this year.
The sector has expressed disappointment, as it is already reeling from major financial difficulties in recent years.
