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Latest Politics: Minister explains why Elon Musk snubbed flagship investment summit | Political news

Latest Politics: Minister explains why Elon Musk snubbed flagship investment summit | Political news

Good morning!

Welcome back to the Politics Hub this Monday, October 14th.

The new government’s flagship investment summit takes place today, with the Prime Minister and Chancellor set to welcome business leaders from around the world.

Sir Keir Starmer will pledge to get rid of regulation that “unnecessarily holds back investment” and to “cut red tape” out of the system.

Sky News has learned that ministers will unveil more than £50bn of deal announcements, or roughly double the £28bn revealed at the previous comparable meeting held under the former Tory administration.

The Prime Minister will be speaking at the event this morning and we’ll also be hearing from the Chancellor this afternoon, so stay tuned for the latest updates.

Meanwhile, David Lammy, the Foreign Secretary, is traveling to a meeting of the EU Foreign Affairs Council.

And the Defense Secretary, John Healey, will answer MPs’ questions in the House of Commons this afternoon, along with his ministerial team.

We will talk about all this and more with:

  • science secretary Peter Kyle at 7.15am;
  • Shadow Science Secretary Andrew Griffith at 8.15am.

Follow the latest political news throughout the day.