A multibillion-pound investment plan which promises to create more than 12,000 new jobs in the UK is expected to be announced by the prime minister on Monday.
Rishi Sunak will be joined by some of the world’s biggest business leaders and investors at a summit at Hampton Court Palace, London.
The prime minister will say investment of £29.6bn is a step forward in the government’s ambition to level up parts of Britain and will secure projects in tech, life sciences, housing and renewable energy.
It comes as Chancellor Jeremy Hunt unveiled around £20bn of business and personal tax cuts in the government’s autumn statement last week, which he dubbed a “statement for growth”.
Mr Sunak said: “Today’s investments, worth more than £29bn, will create thousands of new jobs and are a huge vote of confidence in the future of the UK economy.
“Attracting global investment is at the heart of my plan for growing the economy. With new funding pouring into key industries like clean energy, life sciences and advanced technology, inward investment is creating high-quality new jobs and driving growth right across the country.”
But there are still stark warnings from the UK’s independent spending watchdog that the country is still poised to face the highest tax burden since the Second World War.
Business and Trade Secretary Kemi Badenoch said: “Today is yet another huge vote of confidence in our dynamic, pro-business and highly innovative economy and proves that our plan for growth is working.”
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But Labour said the government’s investment policy had been a “total failure”.
Jonathan Reynolds, Labour’s Shadow Business and Trade Secretary, responding to the government’s announcement on the Global Investment Summit, said: “The past 13 years of Conservative government been a total failure on growth and business investment marked by a complete lack of stability, consistency and ambition which has turned potential investors away from Britain.
“Only Labour has the plans to create the step change needed, working in partnership with business and investors, through our Industrial Strategy, Green Prosperity Plan and commitment to get Britain building again.”
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1:04
Autumn statement explained in one minute
Economic activity returned to expansion in November as an improvement in the services sector helped lift the UK economy, but experts warned recession remained a real possibility.
Mr Sunak earlier hailed Nissan’s decision to invest more than £1bn to build electric cars in Sunderland as a “massive vote of confidence” in Britain.
The Japanese carmaker confirmed it will make its latest electric Qashqai and Juke models at its factory in the North East alongside the next generation of the electric Leaf, which is already produced there.
Scotland’s First Minister Humza Yousaf claims a Holyrood election could be called as he refuses to say if he will resign if he loses a looming vote of no confidence.
Speaking exclusively to Sky News in Fife on Saturday, the SNP leader said it was “really disappointing” to learn the Greens will refuse to enter further talks to change their minds on voting against him in a ballot which could prove fatal for his leadership.
Mr Yousaf has today written to all the opposition parties, including Alex Salmond’s Alba party, at Holyrood urging them to rethink their plot to oust him.
The SNP leader said on Saturday that he was leaving it to his rivals to determine his fate.
A Green Party source said the only letter they will accept from the first minister is his resignation.
Mr Yousaf told Sky News: “Well let me say again, that would be really disappointing if that is the Greens’ position.
“As I say, I’ve reached out to them, they are saying publicly that they’re going to support a Conservative motion against independence, first minister and independence government.
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“That would be, I think, a poor choice to make.”
Asked if there might be a Scottish election if he doesn’t win the vote, Mr Yousaf replied: “Can’t rule it out.”
Sky News understands Alba is holding an emergency meeting this weekend to determine how it will cast the key vote.
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2:22
Yousaf to ‘fight’ no confidence vote
When asked how SNP members would feel about being “propped up” by Mr Salmond, Mr Yousaf said: “Let me make it really, really clear, I’ll be sending out to anybody I meet with, whoever comes round that table, that these are the priorities of the SNP minority government.
“This is what we’ll be pursuing, this is what we’ll be pushing. It’ll then be up to be it Ash Regan, be it Lorna Slater, be it Patrick Harvie or any of them, to decide what button they push when it comes to the vote of no confidence.”
A Jewish campaign group has cancelled today’s Walk Together demonstration amid safety concerns, as the Met Police says the risk of disorder from a pro-Palestinian march is not high enough to seek a ban.
Thousands had been expected to attend the event in central London as part of the Campaign Against Antisemitism (CAA) event, which would have coincided with today’s pro-Palestinian march.
The CAA said it cancelled the event, where people would have walked “where they please”, after receiving “numerous threats” and identifying “hostile actors (who) seem to have intended to come to any meeting locations that we announced”.
It added: “The risk to the safety of those who wished to walk openly as Jews in London… as part of this initiative has therefore become too great.
“We are no less angry about these marches than our Jewish community and its allies. We want to walk.”
The CAA said it had suggested “concrete measures” to government aimed at changing how the pro-Palestinian protests are policed.
It highlighted concerns over antisemitic chants, inflammatory placards, and instances of glorifying terrorism, as well as incidents of violence, including attacks on police officers.
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“Police have told us that they intend to handle the march no differently from the passive way that they have become accustomed to over the course of more than six months,” the group added.
But the Met’s assistant commissioner, Matt Twist, said the force aimed to police “without fear or favour”, adding that the impact of the weekly pro-Palestinian protests was “felt widely” but had been a “particular cause of fear and uncertainty in Jewish communities”.
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Mr Twist added that pro-Palestinian protests had “never” reached the threshold where it was a “risk of serious public disorder”.
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13:02
Extended video of ‘openly Jewish’ row
He said: “The only legal route to ban a march is if there is a risk of serious public disorder – that is rioting or serious violence that could not be dealt with by other restrictions or conditions.
“We have never got close to that threshold on these Palestinian Solidarity Campaign (PSC) marches to date.”
The CAA had announced its Walk Together after its chief executive, Gideon Falter, was prevented from crossing a road near a pro-Palestinian protest by a police officer last week because he was “openly Jewish”.
Footage showed a tense, lengthy stand-off between police and Mr Falter as one Met officer described his presence as “antagonising”.
The campaigner then spoke to another officer who said if he remained in the area, he would be arrested.
After the incident, Mr Falter was critical of the Metand said there were “no-go zones for Jews”, while Scotland Yard apologised twice for the officer’s choice of words.
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0:39
Standoff between protesters in London
The PSC protest today, which organisers claim could attract “hundreds of thousands” of protesters, will take place on a pre-agreed route.
Simultaneously, a separate demonstration arranged by the pro-Israel Enough is Enough group will go ahead following a route parallel to the PSC march.
The Met Police said 450 arrests have been made since the pro-Palestinian marches began, with 193 of those being for antisemitic offences, the majority involving placards, chanting or expressions of hate speech.
The cost of policing the protests stands at approximately £38.5m, the Met added.
The King’s constitutional work has continued, but the public outings were stopped.
His family has stepped up to support him, and protocols were in place should the need arise.
But it has been an incredibly challenging time for the House of Windsor.
News of the Princess of Wales’s cancer diagnosis a double blow for the family.
There remains a lot of uncertainty; the King won’t return to full duties, and his engagements will be adapted to reduce the risk while he recovers. There’s also no confirmation yet about the big set piece events like Trooping the Colour or an overseas state visit.
But this is a significant moment. And the King’s return to public work will start with a personally poignant visit, as he and the Queen meet patients and staff at a cancer treatment centre.