President Trump’s state visit to the UK has delivered the biggest investment package of its kind, with more than 7,600 jobs on the way and £150billion to be pumped into the economy. It is claimed no other state visit has unlocked a larger commercial package and there are high hopes it will trigger growth in areas vital to Britain’s future prosperity.
This includes £3.9billion from investment firm Prologis which will result in both a boost for the Cambridge Biomedical Campus and an upgrade to Daventry International Rail Freight Terminal.
A further investment of up to £1.5billion from Palantir will bolster Britain’s strengths in defence innovation and create up to 350 new jobs.
US tech company Amentum will invest £150million – a move expected to generate more than 3,000 jobs as its UK workforce increases by more than half.
Aviation giant Boeing will convert two 737 aircraft in Birmingham for the US Air Force. This will be the “first USAF aircraft built in the UK in over 50 years” and create 150 positions.
Asset manager Blackstone has made a £90billion investment pledge, in addition to £10billion previously announced for data centre development.
The “investment surge” comes at a time when stubborn inflation, low growth and high borrowing costs have stirred fears for the public finances.
Sir Keir Starmer welcomed the commitments, saying: “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.”
Business and Trade Secretary Peter Kyle added: “These record-breaking investments will create thousands of high-quality jobs across the UK — from clean energy to advanced manufacturing. It’s a huge vote of confidence in our economy and a clear sign that our plan for growth is delivering for working people.
“Working closely with the US strengthens our global position and delivers real results for British businesses.”
But Shadow Business and Trade Secretary Andrew Griffith said: “The economy is flatlining, unemployment is rising and we’re seeing the biggest investor exodus in over two decades. The 7,600 new jobs promised by Labour as part of this package won’t even cover the number lost in the past month alone.
“And just this week it was revealed Keir Starmer’s much-trumpeted steel tariff deal with the US doesn’t actually exist – so why should we take this latest set of promises seriously?
“We all want to see growth, including in high-tech sectors, but that relies on cheap energy and we’re getting the exact opposite thanks to Ed Miliband’s Net Zero fanaticism.
“Only the Conservatives will give businesses the freedom to grow our economy.”