Close Menu
WTX News
    Facebook X (Twitter) Instagram
    Trending
    • How the incredibly tight F1 2025 is told through ghost cars
    • Sainsbury’s recalls own-brand hummus over potentially deadly E.coli warning
    • ‘Outrageous’ Netflix show gets exciting update but UK fans have been left hanging
    • BlackRock to invest £500m in UK data centres during Trump visit
    • How United and City set up the worst Manchester derby ever
    Facebook X (Twitter) Instagram YouTube
    WTX News
    • Live News
      • US News
      • EU News
      • UK News
      • Politics
      • COVID-19
      • Business
      • Tech zone
    • World news
      • Middle East News
        • UAE News
        • Palestine News
      • Europe
        • Italian News
        • Spanish News
      • Africa news
      • South America
      • North America
      • Asia
    • News Briefings
      • UK News Briefing
      • World News Briefing
      • Live Business News
    • Sports
      • Football News
      • Tennis
      • Women’s Football
    • MY World
      • Climate Change
      • In Review
      • Expose
      • Special Reports
        • Conscience Convoy
        • Rohingya Report
    • Entertainment
      • Insta Talk
      • Royal Family
      • Gaming News
      • TV Shows
      • Streaming
    • Lifestyle
      • Fitness
      • Fashion
      • Cooking recipes
      • Luxury
      • Money Saving Expert
    • Travel
      • Culture
      • Holidays
    • Sign Up
      • Log In
    WTX News
    • Live News
    • World news
    • News Briefings
    • Sports
    • MY World
    • Entertainment
    • Lifestyle
    • Travel
    • Sign Up
    Home - Business - Firm’s £500m investment in UK is show of confidence in Government – Chancellor
    Business Updated:November 3, 2024

    Firm’s £500m investment in UK is show of confidence in Government – Chancellor

    By David Pike3 Mins Read
    Facebook Twitter LinkedIn Email Telegram WhatsApp
    Firm’s £500m investment in UK is show of confidence in Government – Chancellor

    Firm’s £500m investment in UK is show of confidence in Government – Chancellor

    Chancellor Rachel Reeves described a £500 million private investment by a US firm into a UK research campus as a “real show of confidence in what this Government are doing to grow the economy”.

    The investment by San Francisco-based developer Prologis, announced days after Labour’s Budget, will fund a 115,000 sq ft expansion to Cambridge Biomedical Campus.

    The campus already supports more than 22,000 jobs and generates £4.2 billion each year for the UK economy.

    The new development will house high-tech labs, supporting clinical trials and diagnostic services.

    It will inject millions into the British economy every year and create more than 2,120 highly-skilled jobs in roles from research to diagnostic.

    Ms Reeves visited the campus on Friday and toured research institute the MRC Laboratory of Molecular Biology, speaking with staff and being shown some of the science that takes place there.

    Asked about the investment, she said: “It’s a real show of confidence in what this Government are doing to grow the economy that just a few days after the Budget Prologis are announcing this £500 million investment into the UK here in Cambridge to grow the life science industry in Britain.

    “The UK’s got huge strengths in industries like life sciences but this additional investment will mean that we can create more good jobs paying decent wages as well as developing here in the UK lifesaving drugs and that’s incredibly exciting because that means patients in the UK having access to better quality medicines while also building our research capability.”

    Research conducted at Cambridge Biomedical Campus addresses the most pressing global healthcare challenges, including developing techniques for spotting cancer early and understanding dementia.

    This underlines how this Government is in lockstep with business in our joint ambition to make sure everyone in the UK benefits from advances in science and technology

    Science and Technology Secretary Peter Kyle

    Paul Weston, regional head at Prologis UK, said: “There is a lot riding on this pivotal first Budget and strong support from the private sector to follow through on investment pledges will be critical.

    “The Government’s commitment to unlock foreign direct investment matches our own focus on partnering with public and private stakeholders to invest and deliver the infrastructure needed for sustainable, long-term growth.

    “Steps already taken through the launch of the National Planning Policy Framework and the Green Paper for the Industrial Strategy are paving the way for a stronger, more resilient industrial base.

    “These initiatives will ensure the UK remains at the forefront of industrial innovation and Prologis are ready to support the Government’s ambitions, providing the spaces that can unlock growth and development.

    “We look forward to furthering our collaboration and investment activity, ensuring the UK continues to lead on a global stage.”

    Science and Technology Secretary, Peter Kyle, said: “The UK’s life sciences sector is central to our ambitions for the UK – from driving economic growth through to saving and improving lives through better treatments.

    “Major investments like this from Prologis, bringing the sector’s largest global companies under one roof in Cambridge, is another vote of confidence in the UK’s approach to long-term growth.

    “Coming just days after the Chancellor raised public funding for R&D to record levels, this underlines how this Government is in lockstep with business in our joint ambition to make sure everyone in the UK benefits from advances in science and technology.”

    https://www.independent.co.uk/news/uk/politics/government-rachel-reeves-chancellor-budget-san-francisco-b2640408.html

    London news The Independent Trending Politics UK featured UK Trending
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram WhatsApp
    Previous ArticleRhonda Alexander: Dating app boss who ‘bullied staff to tears’ judged industry diversity and inclusion awards
    Next Article ‘Kemi Badenoch wins Tory leadership election’ – Sunday papers
    David Pike

    David Pike is an experienced news journalist with over 20 years experience as a UK News editor for WTX News and other news publications.

    Related Posts

    Sainsbury’s recalls own-brand hummus over potentially deadly E.coli warning
    UK News

    Sainsbury’s recalls own-brand hummus over potentially deadly E.coli warning

    BlackRock to invest £500m in UK data centres during Trump visit
    Politics

    BlackRock to invest £500m in UK data centres during Trump visit

    Yellow wind warning in place for most of England from Sunday
    Climate Change

    Yellow wind warning in place for most of England from Sunday

    There is a witch-hunt vibe in Labour on how and who approved Peter Mandelson’s appointment
    UK News

    There is a witch-hunt vibe in Labour on how and who approved Peter Mandelson’s appointment

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Advertisment
    News Headlines
    Sainsbury’s recalls own-brand hummus over potentially deadly E.coli warning

    Sainsbury’s recalls own-brand hummus over potentially deadly E.coli warning

    BlackRock to invest £500m in UK data centres during Trump visit

    BlackRock to invest £500m in UK data centres during Trump visit

    Save 70% on VIP subscription
    News Briefings - the way to a better life
    News Briefings - the way to a better life
    Advert by Sponsors
    More from WTX News
    The latest gaming news - with game reviews and tips and tricks. updated 24 hours a day.
    The latest gaming news
    Hot off the press!
    • How the incredibly tight F1 2025 is told through ghost cars September 13, 2025
    • Sainsbury’s recalls own-brand hummus over potentially deadly E.coli warning September 13, 2025
    • ‘Outrageous’ Netflix show gets exciting update but UK fans have been left hanging September 13, 2025
    • BlackRock to invest £500m in UK data centres during Trump visit September 13, 2025
    • How United and City set up the worst Manchester derby ever September 13, 2025
    WTX News latest breaking news sports and travel
    Latest News and analysis - Deciphering through the BS with exclusive News Briefings
    Facebook X (Twitter) TikTok Instagram

    News

    • World News
    • UK News
    • US News
    • EU News
    • Business
    • Opinions
    • News Briefing
    • Live News

    Company

    • About WTX News
    • Register
    • Advertising
    • Work with us
    • Contact
    • Community
    • GDPR Policy
    • Privacy

    Services

    • Fitness for free
    • Insta Talk
    • How to guides
    • Climate Change
    • In Review
    • Expose
    • NEWS SUMMARY
    • Money Saving Expert

    News delivered to your inbox

    Copyright WTX News 2025

    • Privacy Policy
    • Terms

    Type above and press Enter to search. Press Esc to cancel.