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Bloomberg Television

The UK should lean on private investment, says Lloyds Banking CEO πŸ’–

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investors want to invest in the UK they’re looking at the UK relative to Europe and the US and Asia and at the moment the UK looks like a good destination but the first thing is Clarity and stability the second thing is tell me where you’re going to invest alongside us and do it in a way that enables us to bring private Capital to work we estimate that there’s about 40 to 50 billion pound worth of investment per year for the next 20 years so the government can’t afford that but the private sector really can make a difference and then the third thing is really enable the financial services sector to unlock its potential to support that investment but Charlie so you’re one of the key components actually try and get this foreign direct investment into the country where would you deploy it where will it be deployed well I know the government’s going to come out with their kind of industrial plan and they’re talking about eight sectors uh two examples that I think there’s huge opportunity one is around the energy transition and the UK is already a leader around offshore wind but floating wind onshore wind the growth in solar and then some of the new technologies like carbon capture and hydrogen there’s huge opportunities to invest and that also needs a clear plan for the National Grid and the electrical infrastructure that’s one example of a huge opportunity for investment another’s housing so uh the government’s made a commitment to build 1.5 million new homes we need more social and affordable homes specifically that’s something we have called for as Lloyd’s banking group and we really need to get the money invested start um going behind breaking down the planning laws and building more homes

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