Prime Ministers Office 10 Downing Street
And thanks to all you for being here
Its fantastic to stand here and look out and see so many of you here
And Im really grateful that you have made the effort, and you are here. It means a huge amount to me and my government
And welcome to this Governments first International Investment summit.
And some of you I know have come a very long way to be here
You have flown in from a great distance, some of you will be going straight back out again afterwards.
You have made a huge effort to share with us the precious gift of your time
And we are really, really grateful for that.
And welcome to the Guild Hall
Londons ancient Town Hall
Isnt it a fantastic building, its really breathtaking this Guild Hall.
Not of course to be confused with the nearby Guildhall school of music
Where I once pursued a fleeting ambition to play the flute professionally. I kid you not
Complete with then long hair and very, very flared jeans.
All photographic evidence has been destroyed.
But today we are pursuing a different ambition
A shared ambition
Growth.
You have to grow your business.
And I have to grow my country.
Ill leave it to you to decide if you think voters or shareholders are the more forgiving audience
But without growth lets just agree its a difficult conversation
And that therefore, growth is a cause that binds us together.
The shared endeavour of prosperity.
Its why weve made it the number one test of this government
I am determined to do everything in my power to galvanise growth
Determined for this country to be the highest growing economy in the G7
That is our most important national mission.
Because its the only way to deliver the mandate for change that we won.
Growth is higher wages.
Growth is more vibrant high streets.
Growth is public services back on their feet.
Its less poverty, more opportunity, more meals out, more holidays, more precious moments with your family, more cash in your pocket.
And of course, for any business
It means a bigger market.
Higher demand
A more secure and prosperous future
Your effort and enterprise rewarded in profit.
But its much more important, even than all that.
We live in an age when political fires rage across the world.
Conflict. Insecurity.A populist mood that rails against the open values so many of us hold dear.
Values which, as you know
Are so crucial for making business easy to do.
And yet at the same time
Look around the world
Look at the investments you and others are making.
This is an age of great possibility, as well.
Huge revolutions in digital technology, clean energy, medicine, life sciences
Each - with the potential to fundamentally change the way we live and the way that we work
Each - with the possibility to transform the lives of working people for the better.
And so, in times like this
Economic growth is vital as it always has been
If we are to steer our way through a great period of insecurity and change
And on to calmer waters.
Because when working people benefit from that growth
When every community enjoys the fruits of wealth creation
It stops a country turning in on itself and against the world.
And that in turn, helps provides a stable foundation
Breathing space
For a country to take advantage of those opportunities for a better future.
To put it more simply
Its not just that stability leads to growth though we all recognise that.
Its also that growth leads to stability
Growth leads to country that is better equipped to come together
And get its future back.
Thats why its always been so critical to my political project.
The key ingredient of that Great Moderation we became accustomed to before the financial crash
But which together, in partnership
We now have to earn again.
Every one of you here today
Has been invited for that reason.
Its not just that you lead some of the most important businesses in the world.
Its also because you are pivotal to this great cause of our times.
And the reason we are focusing so much on investment
Is because the mission of growth, in this country in particular
Demands it.
Private sector investment is the way we rebuild our country
And pay our way in the world.
And make no mistake this is a great moment to back Britain
This is great moment to back England, Scotland, Northern Ireland and Wales.
We have an amazing education system that produces some of the best talent in the world.
The largest tech sector in Europe.
Leading positions in some of those great industries of the future
Artificial Intelligence, Life Sciences, Clean energy, the creative industries.
Were a country where businesses thrive small and large alike
With clear regulatory frameworks and protections
A legal system that sets high standards around the globe
A location which means we can speak to our colleagues in the Americas or Asia in the same day
A high ranking in the Global Innovation index, every year
Our wonderful global language
Our world-renowned sport and culture
This great modern city
And all around us
A heritage steeped in commerce and trade
A set of shared values - centuries-long
For being a country that is open for business.
You cant put a price on any of this.
Now we have our problems of course we do.
As Ive said - our public services need urgent care
And our public finances need the tough love of prudence
Challenges we cannot ignore.
Because, we know just as every leader here knows
That those early weeks and months are precious.
And, no matter how many people advise you to ignore it
That you must run towards the fire to put it out
Not let it spread further.
So we will fix our public services
We will stabilise our economy
And we will do it quickly.
Because we dont want any of those problems associated with our inheritance
Misting up the shop window of Britain
Distracting you - from all those assets I just listed.
Assets that may feel more intangible
But are more valuable
More enduring
Deeper in the bones of this nation.
And which are ready to be unlocked
If we take firm and decisive action on policy - which we can and we will
To give you total confidence that this is the moment to back Britain.
So let me quickly run through four crucial areas in our pitch for Britain.
I know - its a kind of CEO heresy to have a list of four not three
So I apologise!
But please indulge me.
First stability.
We have a golden opportunity to use our mandate
To end the culture of chop and change
The policy churn
The sticking plaster politics
That makes it so hard for investors to assess the value of any proposition.
Now, you may think well every government says that
But the stability that comes with a large majority in our system
That is a unique advantage.
And we have the determination
The focus on clear long-term ends
A mission-led mindset that thinks in years
Not the days or hours of the news grid
Needed to unlock that potential.
And dont doubt that.
Second strategy.
We are building a more strategic architecture for growth.
A way for investors to have a much steadier hand on the tiller.
Thats why weve announced a new National Wealth Fund
And switched on Great British Energy
Which will accelerate investment in clean power and future technologies.
Like Carbon Capture and Storage, for example
Which we just backed - alongside BP, Equinor and Eni
And which shows the hard-headed approach we will bring to industrial policy.
A partnership sharing the risk with the private sector
Ambitious absolutely.
But also unsentimental.
Guided by the market
Focused, at all times
On the real potential for comparative advantage in this country.
You know - this is the point I would always make about our Modern Industrial Strategy.
In this country, there has been a long rather arcane political debate about picking winners.
Well, were not in the business of individual picking winners.
But we are in the business of building on our strengths.
Mowing the grass on the pitch
Making sure the changing rooms are clean and comfortable
That the training ground is good.
So that when our businesses compete
They are match fit
That, to put it simply
We give the businesses of this country the best conditions to succeed.
I dont know why thats sometimes controversial in this country
Industrial policy seems fairly commonplace elsewhere around the world.
But it is fundamental to the way we see our job on growth
And our relationship with a room like this.
Third Britains global standing.
Were determined to improve it.
Determined to repair
Britains brand