Reeves gets deals done at Davos

Votes of confidence in the UK economy as Chancellor secures £1.5 billion in major new private investments

Britain’s reputation as one of the best places in the world to invest was bolstered today as the Chancellor announced major new private investments at the World Economic Forum in Davos.   

225 places across Britain – including in the North, Midlands, Wales and the South East – have been identified by savings and investment giant M&G as places where communities could benefit from a landmark £1 billion investment fund, announced by Chancellor Rachel Reeves today in Davos.  

The new UK Social Investment Fund will invest in areas facing housing and transport shortages and in communities needing town-centre renewal, new education and health facilities, and low-carbon or digital infrastructure to support the UK’s net zero transition.  

In a further vote of confidence, global biopharmaceutical company UCB confirmed its £500 million investment in UK R&D and manufacturing, in Surrey.   

The investment means that UCB will continue to develop a range of medicines for immunological diseases, here in the UK, from its new world-class research hub being developed in Windlesham.  It will support cutting‑edge research, safeguard and create high‑skilled jobs, and help drive the growth that keeps Britain competitive on the global stage through our outsize strengths in the life sciences sector.

Made possible by the government’s Life Sciences Innovative Manufacturing Fund, the investment will also strengthen the country’s health resilience, securing capacity for end-to-end medicines development in the UK.

Chancellor of the Exchequer Rachel Reeves said: