UK and Japan set to agree investment deal worth £18bn

The United Kingdom and Japan are on the verge of finalizing a significant investment deal valued at £18 billion, a pact anticipated to generate tens of thousands of new jobs in the UK. Prime Minister Keir Starmer is set to host his Japanese counterpart, Sanae Takaichi, at Downing Street ahead of the upcoming G7 summit.

More than ten commercial and governmental agreements are slated for signing. A substantial £9 billion offshore wind deal is a centerpiece of the package. Additionally, Rolls-Royce will deepen its collaboration with Japan's Atomic Energy Agency through a new agreement focused on developing next-generation nuclear technologies. Business leaders from both nations will convene to discuss future economic growth opportunities.

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These landmark agreements will bring multibillion-pound investment into the UK, creating tens of thousands of new jobs and driving new developments.

Starmer emphasized the landmark nature of these agreements, stating they will "bring multibillion-pound investment into the UK, creating tens of thousands of new jobs and driving new developments." He further noted the shared commitment with Japan, as G7 economies and security partners, to "working together on some of the most innovative technology in the world, harnessing the best of British and Japanese research and industry to deliver growth and security."

The discussions will also explore avenues for UK defense firms to access Japanese investment. This development occurs amidst domestic political challenges for Starmer, following the recent resignations of Defence Secretary John Healey and Armed Forces Minister Al Carns over disputes concerning long-term military funding. These departures have intensified pressure on the Prime Minister.

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As G7 economies and close security partners, we are working together with Japan on some of the most innovative technology in the world, harnessing the best of British and Japanese research and industry to deliver growth and security to every corner of the United Kingdom.