Australian investors commit £28.5bn in major economic boost for UK

Leading Australian businesses announced major new investments worth £28.5 billion in projects across the UK.

The announcement follows the Global Investment Summit hosted by the Prime Minister in October and the creation of the new Office for Investment and underlines the growing appeal of the UK’s economy and workforce for foreign investment.

The strategic investments will create thousands of jobs initially with many more expected, supporting the government’s agenda to level up across the UK, improve the quality of our infrastructure and housing and drive a green industrial revolution.

New investments announced on Thursday (31 March) include Australian financial services firm Macquarie Group plans to support £12 billion of investment by 2030 in infrastructure projects across the UK, including in offshore wind in Lincolnshire and North Scotland, gigabit broadband in rural England and hydrogen hubs in Southampton and Orkney.

Macquarie Group has supported more than £50 billion of investment in the UK in the last 15 years, backing half of the country’s existing offshore wind capacity.

Pension fund AustralianSuper forecasts a further £8 billion in investments across the UK over the next five years. Among other projects, the funding will support a joint venture with British Land to develop their Canada Water master plan, estimated at £5 billion in value on completion.

Source Financial Accountant click here to read more.