Chancellor launches Regional Investment Summit in Birmingham

Rachel Reeves announced £10 billion of investment at the summit

Mary Creagh MP attended a dinner in Birmingham with Chancellor Rachel Reeves on the eve of the Regional Investment Summit where new jobs and a blitz on business bureaucracy were announced.

The Chancellor promised over £10 billion of investment at the first Regional Investment Summit creating nearly a thousand jobs across the UK.

This includes almost £800 million of investment in the West Midlands; £635 million of private investment in sectors including AI, pharma, dairy and real estate, plus a new £125m skills and housing package from the Combined Authority to train 12,000 construction workers to deliver 1,000 social homes.

The Chancellor Rachel Reeves kicked off the summit by announcing a blitz on pointless paperwork, speeding up delivery on the Prime Minister’s 25% admin reduction target – a central commitment in the government’s modern Industrial Strategy to make it easier and quicker to do business in the UK.  

The crackdown will see over 100,000 firms qualify for simpler corporate reporting rules. By slashing burdensome red tape, the Labour government will save UK firms nearly £6 billion a year by the end of this Parliament.