Former Google boss Eric Schmidt has been named as one of the high-profile executives to attend the Labor government’s first international investment summit.
Schmidt, who was Google’s chief executive from 2001 to 2011, is expected to play a key role at the summit in central London on October 14, where he will be joined by Keir Starmer. He is scheduled to appear in a discussion with.
The Prime Minister hopes the summit will send a clear signal to investors that Labor’s Britain is open for business and encourage an injection of new private capital to drive growth policies.
The government said other confirmed speakers include Ruth Porat, the current president of Google owner Alphabet. Bruce Flatt, CEO of Canadian investment firm Brookfield Asset Management. and Alex Kendall, boss of British self-driving car technology startup Wayve.
While technology is likely to be a major focus of the summit, Tesla boss and X Company owner Elon Musk has made several comments on social media, which caused controversy during the riots in the UK in August. Posted but not invited.
Last November, Musk headlined the UK’s AI summit, where then-Tory Prime Minister Rishi Sunak hosted a chat show and flattered entrepreneurs during a 40-minute conversation.
Musk has supported Donald Trump in the upcoming US presidential election, and on Saturday appeared with Trump at the scene in Butler, Pennsylvania, where Trump narrowly escaped assassination in July.
Commenting on Labour’s investment summit, Mr Schmidt said: “When the UK hosted the first global summit on AI safety, we demonstrated our determination to be a leader in responsible innovation. And now, we are going even further to ensure the UK is a hub for world-class talent. We have the opportunity to clarify our vision for the future.
“I look forward to discussing with the Prime Minister how we can drive further investment in research and education to ensure the UK remains at the forefront of these technological breakthroughs.”
Labor hopes the event will boost investment in the UK two weeks before the Budget is announced on October 30th.
But some business leaders who attended Labour’s annual conference in Liverpool last month said the summit was being held two weeks before the Budget, when the government’s key policies were still unclear. He complained that it was bad. These include spending priorities and possible changes to taxes such as inheritance tax and business rates.
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Labor sources told the Guardian last month that the government was not ready to release an industrial strategy by the summit, but corporate responsibility said the policy was important in guiding investment into the economy. They say: A green paper will be published alongside the budget to consult on the proposals before the final plan is fully unveiled early next year.
During the general election campaign, the party pledged to hold a summit within 100 days of taking power to demonstrate Britain’s “openness” under a new government.
The summit is sponsored by Barclays, HSBC, Lloyds, M&G plc, Octopus Energy and TSL.
Barclays chief executive CS Venkatakrishnan said the summit was an opportunity for the government to “further build investor confidence around our priorities of driving UK economic growth”. The UK’s history of stability, skills and innovation makes it an attractive investment destination. ”
