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(Bloomberg) — Keir Starmer announced £1.3 billion of investment into the UK in energy and AI projects at the G7 summit in France, as Britain’s premier tries to convey a sense of business as usual even as he faces the prospect of a leadership challenge.
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The inward investments include £1 billion ($1.3 billion) from Paris-based private equity firm InfraVia Capital Partners SAS in battery storage and other energy projects, and £300 million ($403 million) from Hyderabad-based Atri Energy Transition Pvt Ltd. in battery storage and advanced manufacturing, 10 Downing Street said in a statement.
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“These investments will create thousands of high-skilled jobs, back British innovation and strengthen our energy system,” Starmer said in the statement. “I’m focused on making the UK the best place to do business by offering global investors the stability and competitive environment they need to grow, even in the face of global uncertainty.”
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Starmer’s trip to the G7 in the French Alps has had the feel of a swan song on the world stage, as he’s sought to make progress on issues such as fresh peace talks between Russia and Ukraine and reopening the Strait of Hormuz. But hanging over Starmer is the Makerfield by-election on Thursday, where a victory for Greater Manchester Mayor Andy Burnham is widely expected to lead to an imminent leadership challenge.
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Starmer has batted away questions about his future while at the summit, insisting that he will fight on as Britain’s premier and contest any challenge if it comes.
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“I really don’t think we should be putting the country into the chaos of a leadership election but if there is one I intend to fight it,” Starmer told Times Radio at the G7 summit on Tuesday. “We won a significant general election result in 2024 with a mandate to bring about change. I’m not going to walk away from that.”
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