UK Labour leader Keir Starmer is set to announce the creation of a £10bn AI datacentre in north-east England, bringing 4,000 jobs to the region. The datacentre will be funded by private equity firm Blackstone, run by Trump supporter Stephen Schwarzman, in a move hailed by Prime Minister Boris Johnson as a vote of confidence in the UK economy. The datacentre will be built in Blyth, Northumberland on the site of the failed Britishvolt battery startup.
Construction is set to begin next year, with the datacentre designed to store data required for AI systems. Schwarzman will invest £110m into a fund for skills training and transport infrastructure in the area. Starmer plans to meet with Blackstone and other firms to further discuss investment opportunities in the UK.
The government is also focused on an international investment summit in October and has been consulting on tax plans for private equity firms. They aim to raise at least £500m through closing tax loopholes for individuals in the private equity industry.
Starmer’s push for foreign investment is part of his strategy to boost the UK economy and create job opportunities. He continues to work towards improving relations with the EU, with a visit to Brussels planned next week. The announcement of the AI datacentre in Blyth is seen as a significant step towards economic growth in the region and a positive sign for the future of the UK economy.
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