Sir Keir Starmer tells world’s billionaires he can ‘put out Britain’s fires’ if they get growth going at tech summit
SIR Keir Starmer turned on the charm to billionaires today as he vowed to “put out Britain’s fires” and go for growth.
Speaking to hundreds of CEOs and entrepreneurs at the International Investment Summit, the PM insisted that the “tough love of prudence” is key to fixing the country’s ailing economy.
Sir Keir pledged to tackle the challenges holding back growth head-on, including failing public services and a lack of business investment.
At the Guildhall in central London he said: “Our public services need urgent care, our public finances need the tough love of prudence.
“Challenges we cannot ignore because we know just as every leader here knows that those early weeks and months are precious.
“And no matter how many people advise you to ignore it, that you must run towards the fire to put it out, not let it spread further.”
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The PM also pledged to tear up the red tape standing in his way to drive growth, including building houses and major infrastructure projects.
It comes as deals worth around £50 billion are expected to be signed off at today’s conference in areas such as Artificial Intelligence and infrastructure.
Sir Keir said: “Where it is stopping us building the homes, the data centres, warehouses, grid connectors, roads, trainlines, you name it then mark my words – we will get rid of it.
“We will rip out the bureaucracy that blocks investment and we will make sure that every regulator in this country take growth as seriously as this room does.”
The PM also told hundreds of entrepreneurs there is a “golden opportunity” to end the “policy churn and sticking plasters” turning off investors.
The Competition and Markets Authority have been asked to prioritise growth and investment by reviewing other watchdogs to “curb red tape” to get ahead of other countries.
His showpiece event looked like being overshadowed after a Cabinet Minister put in jeopardy a £1 billion deal after criticising P&O Ferries.
It comes after the Business Secretary Jonathan Reynolds downplayed a row with DP World – the owners of P&O Ferries – as a “little thing”.
Downing Street distanced themselves from comments made by Transport Secretary Louise Haigh who called them a “rogue operator” over sacking 800 staff two years ago and replacing them with foreign workers who cost less.
Parent company DP World said the £1 billion investment had been pulled and was under review but is now back on after it was smoothed over.