Prime Minister Keir Starmer hailed Sunday plans by US finance firms, including PayPal and Citigroup to invest £1.25 billion ($1.7 billion) in the UK, announced days ahead of President Donald Trump's state visit.
The investments by leading US companies, which also include Bank of America and S&P Global, will create 1,800 jobs in London, Edinburgh, Belfast and Manchester, according to the government.
The announcement came as the UK prepares to welcome Trump on Tuesday for a historic second state visit, having been hosted by Queen Elizabeth II in 2019 during his first term in office.
"By working with our allies, we are creating jobs here," said Starmer, who is enduring a domestic political crisis following this week's sacking of his ambassador in Washington, Peter Mandelson, over his friendship with sex offender Jeffrey Epstein.
The embattled UK leader, who also recently lost his deputy in a scandal after she underpaid a property tax, added on X that the investments confirm "Britain's place as a leader in global finance."
As part of the plans, Bank of America will create up to 1,000 new jobs in Belfast in its first-ever operation in Northern Ireland.
Citi Group will invest £1.1 billion across its UK operations, including also growing its presence in Northern Ireland, where the bank is already one of Belfast's top employers, now employing over 4,000 people.
The UK government said the twin investments were "firmly establishing Belfast as a major technology powerhouse."
Meanwhile, S&P Global is set to plough more than £4 million into its offices in Manchester, northern England, which will support 200 permanent jobs to boost their nearly 3,000-strong UK workforce.
In addition, PayPal will invest £150 million in "product innovations and growth," the government added.
It noted BlackRock, which opened a new office in the Scottish capital Edinburgh this week, was also expected to allocate £7 billion to the UK market next year on behalf of clients while investing £500 million in UK enterprise data centers.
Trump's visit, which will see the president feted Wednesday by King Charles III and other royals in Windsor before he meets Starmer the following day, is expected to focus on boosting transatlantic economic ties.
AFP
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