By Sharon Todd

In his 2024 Labour conference speech, newly ordained prime minister Keir Starmer pledged his government would be “mission-driven and serious”.

“People say we can’t deliver national renewal,” he said, “but we can and we will. We will stabilise our economy.”

But today, confidence in the UK is waning. One signal is the trickle of investment opportunity that has been steadily leaking from the UK market this year.

AstraZeneca pulled out of its new vaccine research, development and manufacturing plant in northwest England. Ineos backed away from its North Sea infrastructure investment plans. Merck scrapped its already under construction headquarters and research centre in King’s Cross, which was set to open in 2027.

Taken together, the combined financial shortfall is close to £4.5billion, notwithstanding the loss of hundreds of high-quality jobs, ongoing tax revenues and future supplementary investments.

These are deals........

© LBC