Speaking at the GCV Symposium in London, Poppy Gustafsson said the government will make the UK a more attractive place for investors.
The UK’s investment minister promised support for corporate investors looking to back British startups, and said that reforms to planning law and the government’s upcoming industrial strategy will “bring growth back into the country”.
Speaking at the GCV Symposium in London on Wednesday, Poppy Gustafsson said that the government’s planning and infrastructure bill will make it “simpler” for entrepreneurs and investors to build and scale UK businesses.
The planning and infrastructure bill, which is on its second reading in the House of Lords, is intended to speed up planning decisions on new infrastructure projects. The government is also expected to announce a new industrial strategy later this month, which Gustafsson said will give investors “clarity” on how the government plans to create growth.
The UK’s productivity growth has been stagnant since the 2008 financial crisis, averaging 0.4% a year to 2023. Consequently, GDP has grown at about half the rate of the 15 years preceding the crash. Research funded by the Economic and Social Research Council, a UK public body, has suggested that low investment and uncertainty caused by Brexit and frequent changes of industrial policy are likely causes.
Part of Gustafsson’s ministerial role involves working with investors to help them understand the country’s business landscape.
“It is our job to support [investors],” she said. “To help you navigate the pools of capital that are available. [To explain] what support is there in terms of the know-how, the expertise or the convening power.”
Before entering politics, Gustafsson was a venture capitalist and later the founder of Darktrace, a UK cybersecurity startup.
“I know, because I have driven growth in my own company, that it’s not just a matter of choice,” she said. “It’s more than wanting, you have to then think about how you’re going to execute and drive that growth.”
