PM to unveil £400m in offers to spice up companies – from Rolls Royce to British metal
Prime Minister Keir Starmer is set to announce £400million worth of deals for trains, planes and submarines in a boost to British workers at the G20 summit
Keir Starmer is set to announce £400million worth of deals for trains, planes and submarines in a boost to British workers at the G20 summit.
On Thursday night, the PM travelled to the international gathering in South Africa, where he will champion British businesses ahead of next week’s make-or-great Budget.
Rachel Reeves’s financial statement next week is expected to include significant measures to ease the cost of living crisis and put more pockets in working people’s pockets.
Mr Starmer said working with countries across the world “is a one-way ticket to growth”. As part of his whirlwind trip to South Africa, the PM will visit a train depot in Johannesburg, where he will see Derby-built trains.
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He will announce a new agreement between the UK and South Africa to provide British expertise to help reform the country’s rail system. Crossrail International – owned by the UK Government – will provide strategic advice to drive private investment into South African railways.
The UK and Vietnam are also partnering to drive a digital transformation across Vietnam’s railways.
British Steel will also get a boost by supplying a further £35m of products into Turkey’s high-speed rail network. The PM will also announce that Rolls Royce will supply new jet engines to Air Algerie.
And the UK has also won an initial contract to assist the South African Navy in assessing the operational readiness of their Type 209 submarines and undertaking the deep maintenance of at least one of those submarines. This marks the British defence firm Babcock’s first defence contract in South Africa.
Red tape will also be cut through a new UK and South Africa agreement, which is estimated to add between £400m and £700m to UK businesses over the next five years.
Mr Starmer said: “Working with international partners to deliver jobs and opportunity at home is a one-way ticket to growth.
“The UK is a world leader in engineering, from steel welders in Scunthorpe to technicians in Derby, British workers are powering the world through their skill and profession.
“I am determined to open more doors for British businesses across the world so together we can drive growth, create highly skilled jobs to drive down the cost of living, and deliver opportunity to people across the United Kingdom.”
Downing Street added: “The Prime Minister has made clear that he’s later focused on delivering for those at home through our strength and partnerships abroad.”
