In a statement ahead of a major business summit in London, a UK cabinet minister said that Elon Musk would be “welcome” at future investment events if his companies had open investment programs the UK could compete for.
This comment came after the tech billionaire expressed frustration over not being invited to the upcoming summit despite being a global business figure.
Musk had reacted to his exclusion with criticism, especially after his controversial remarks over the summer riots, where he claimed civil war in the UK was “inevitable” and made other unfounded claims about the unrest.
However, Peter Kyle, the UK’s science and technology secretary, clarified that Musk’s absence was not due to those comments. Instead, it was because his companies didn’t currently offer open investment opportunities that the UK could potentially bid on.
“Elon Musk has never come to these sorts of events, under any government,” Kyle explained.
“We are out there inviting people to come to this summit who are already open to investing, and they have investment programs that are under way. Elon Musk would have been very, very welcome if he’d had an open investment program that we could have latched on to.”
Peter Kyle
Kyle emphasized that the UK is eager to engage with Musk’s businesses when such opportunities arise, saying, “Believe me, we will be first in line, and I will be first in line, knocking on his door to try and get that investment here.“
The minister also took a moment to praise Musk’s achievements in space technology, particularly SpaceX’s latest success in recovering a booster stage from its Starship rocket. “I was watching slack-jawed in amazement at the staggering achievement,” he remarked, clearly impressed by Musk’s technological breakthroughs.
Time To Invest In Britain
Despite the controversies surrounding Musk’s exclusion, the summit is seeing a wave of support from major financial institutions and tech companies.
A group of private equity firms, insurers, and five leading banks, including JP Morgan, Goldman Sachs, and Bank of America, signed a joint letter declaring that it is “time to invest in Britain,” offering a significant boost to Prime Minister Keir Starmer ahead of the event.
The companies stated that the UK’s investment environment had become more favorable due to increased political stability: “We are optimistic about the future of the economy and believe it is time to invest in Britain.“
As part of the business charm offensive, Starmer is set to make a keynote speech where he would outline plans to reduce bureaucracy that hinders investment growth. He said, “We’ve got to look at regulation where it is needlessly holding back the investment to take our country forward.“
Starmer also promises that the government will work to remove obstacles that block investment in key infrastructure such as homes, data centers, warehouses, and transportation.
“Mark my words – we will get rid of it. We will rip out the bureaucracy that blocks investment and make sure that every regulator in this country takes growth as seriously as this room does,” he is expected to assert.
When asked whether these remarks suggested less regulation, Starmer responded, “It’s different. You don’t have to cut corners to get innovation through the regulatory landscape.“
As such, the UK remains open to future collaborations with Elon Musk while positioning itself as a prime investment destination, emphasizing reduced bureaucracy and increased opportunities for global investors.
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