Politics latest: Ex-Google boss tells PM what's blocking investment (2025)

Key points
  • 'Great moment to back Britain,' PM tells business leaders
  • But ex-Google boss warns regulation is 'killing you'
  • Chancellor announces more than £60bn of investment
  • Beth Rigby:PM enjoys a reset moment - but big test lies ahead
  • Brexit hurt economy but 'we've moved on', says minister
  • Increase to employer national insurance not ruled out
  • Explained:What is NI and what did Labour pledge at election?
  • Live reporting by Tim Bakerand (earlier)Ben Bloch

22:00:01

Here's what you need to know at 10pm:

  • Chancellor Rachel Reeves has announced more than £60bn worth of investment following today's event, which she said was "a sign of the confidence we now see in the British economy";
  • It comes after the prime minister pointed to the stability of a majority government for the next five years and his pro-growth agenda, promising to tear up red tape to make investment easier;
  • But he was warned by ex-Google boss Eric Schmidt that regulatory rules in Britain were "killing you", as projects are left in limbo waiting for approval and put off investors;
  • You can watch business and economics correspondent Paul Kelso's interview with the chancellor here:
  • Despite the pro-business message the government's pushing today, several ministers have refused to rule out increasing national insurance contributions for employers in the budget;
  • The chancellor and business secretary have said the Labour manifesto only spoke about not raising the tax for "working people", leaving the door open for increases for businesses.
  • Health Secretary Wes Streeting told the Politics Hub with Sophy Ridge that people should be careful about using Ozempic"for the Instagram perfect body";
  • He says there are costs to the NHS for giving out the drug too, and it should be done alongside changes to diet and exercise;
  • Mr Streeting also told Sophy he felt people had "moved on" from Brexit.
  • In the Commons, MPs have been paying tribute to Alex Salmond, the former SNP leader and first minister who died at the weekend aged 69;
  • The Alba Party leader's death has been confirmed as a heart attack;
  • SNP Westminster leader Stephen Flynndescribed him as the "most talented, formidable, and consequential politician of his generation".

23:00:01

Goodnight

We're pausing our live coverage for now.

Join us again in the morning.

22:35:07

Starmer, King and Elton John attend investment summit reception

The prime minister hosted a reception tonight for those who attended the UK's investment summit.

As well as Sir Keir, the King was also present at the event.

Sir Elton John met with the PM beforehand - and played for attendees.

The Rocket Man singer was not paid - as he attended as an ambassador for the Universal Music Group.

22:08:41

UK agrees to regular foreign policy dialogue with EU; will also consult on defence issues

Foreign Secretary David Lammy has been meeting with EU high representative for foreign affairs and security policy Josep Borrell today.

In a read-out from the Foreign, Commonwealth and Development Office, there was the usual diplomatic language calling for a ceasefire in the Middle East and extolling support for Ukraine.

However, towards the bottom there is an interesting update on the further meetings planned between the UK and the EU.

The statement says: "High representative Borrell and UK Foreign Secretary Lammy agreed during their meeting that the UK and EU will establish a six-monthly foreign policy dialogue between the UK Foreign Secretary and the EU high representative for foreign affairs, to enable strategic cooperation on the highest priority issues and first meeting in early 2025.

"In addition, they also agreed to a number of regular UK-EU strategic consultations to sit underneath this on Russia/Ukraine, the Indo-Pacific, the Western Balkans and Hybrid threats."

This may be worth keeping an eye on, if Labour look to take a closer alignment with the EU on defence issues than the previous UK government.

21:23:01

Alex Salmond cause of death confirmed

Following his death on Saturday, Alex Salmond's Alba Party has confirmed his cause of death.

According to the nationalist group, the 69-year-old died due to a heart attack.

The former first minister of Scotland collapsed at a crowded lunch following a speech at the Institute for Cultural Diplomacy Forum in Ohrid, North Macedonia.

The UK and Scottish governments are working to repatriate his body.

MPs paid tribute to Mr Salmond in the Commons earlier today - you can read more here.

21:09:00

Members of armed forces could quit over Labour's VAT plan for private schools

By Alix Culbertson, political reporter

The government's refusal to exempt military families from paying 20% VAT on private schools could cause personnel to quit, the shadow defence secretary has warned.

Speaking in parliament on Monday, Defence Secretary John Healey would not agree to allow military families to be exempt from the policy, which will begin in January.

Asked if he would do so by Conservative shadow defence secretary James Cartlidge, Mr Healey said the government is "looking very closely" at how it can continue providing a contribution to boarding school fees for military families as part of their package.

Mr Cartlidge told Sky News there are many families who fall outside of being eligible for the Continuity of Education Allowance (CEA), yet still need to send their children to boarding school as they move around a lot - but cannot afford it.

He said if armed forces personnel have to pay the "unaffordable increases... because of this government's ideological decision", it could force experienced personnel to quit.

20:46:59

Afghans who served with British forces wrongly rejected for asylum

Earlier today in the House of Commons, defence minister Luke Pollard gave a statement on the "triples" - Afghan special forces units with the namesCF333 and ATF444.

He explained how some of those who served in the units had wrongly been rejected asylum in the UK.

The last government announced in February that 2,000 cases were being re-examined after they were thrown out under the scheme for people who served alongside British forces in the region.

Mr Pollard said around 25% of decisions had been overturned now payments from the British government to the Afghan fighters had been discovered.

Afghans were offered asylum after Western troops pulled out and the Taliban retook control of Afghanistan in 2021.

The minister said: "The review is still progressing, and each application is considered on its own merits. But on the information available at the moment, we are expecting an overturn rate of approximately 25%."

He later added: "We have unblocked progress and that eligible former triples and their families will now rightly receive the sanctuary that their work in support of our troops in Afghanistan deserves."

19:45:17

Ex-Tory minister suggests Labour 'positioning to right of the Conservatives'

Former Conservative minister Steve Baker was listening closely to our interview with Health Secretary Wes Streeting.

He tellsSophy Ridgehe was "delighted" to hear Mr Streeting and the prime minister talking about deregulation at today's investment summit, quipping the pair "could find a home in the Tory party talking like that".

Sir Keir Starmer has suggested excessive regulation too often obstructs infrastructure projects and investment.

Mr Baker goes further, also bringing up Mr Streeting's interest in Singapore's health system - which combines public funding with significant private investment.

Mr Streeting is committed to the NHS remaining free at the point of use, but has repeatedly said it needs reform.

Mr Baker claims Labour are "transparently positioning to the right of the Conservative Party on a number of issues and when they do so, the Conservatives should simply back them in doing the right thing".

That concludes our coverage of tonight's Politics Hub With Sophy Ridge - the show returns tomorrow at 7pm. Stay with us for more updates and analysis through the evening.

19:37:12

Don't use Ozempic 'for the Instagram perfect body', says health secretary

Following a report by our science correspondent Thomas Moore, Health Secretary Wes Streeting is asked about the drug Ozempic.

It is used to help people with weight loss - but Thomas has uncovered difficulty in people getting the treatment on the NHS.

Mr Streeting says he has a "nuanced" view on medical supplements being deployed for shedding kilos.

He says on the one hand the drugs "can be game changing" for tackling obesity, which can lead to conditions like heart disease and strokes, and also has a cost to the economy.

But Mr Streeting cautions "we don't see these drugs as an excuse not to do the right thing in terms of our diet, nutrition, exercise, or to use them as cosmetic drugs for the Instagram perfect body".

Cost to the NHS

Mr Streeting goes on to say the "social media world we live in" can see people at far greater risk "in terms of mental ill health, eating disorders, body dysmorphia".

The health secretary says he also has concerns about the costs to the NHS if people go on treatment en masse.

"We have to pay some prescription charges, but that doesn't mean that you should use it and abuse it," he says.

"And I do think there is a responsibility to do the right thing too."

He accepts people losing weight will save the NHS money - but says the use of products like Ozempic should be done alongside changes to diet and exercise.

"It's not quite as clear-cut as taking some drugs and 'hey presto, you're ready for summer,'" he says.

19:21:44

People have 'moved on' from Brexit, claims minister

Health Secretary Wes Streeting has popped in to see Sophy Ridge to speak about today's investment summit.

With all the talk about how important economic growth is to the Labour government, isn't it finally time to talk more about Brexit?

Asked by Sophy if the government should be having a debate about a closer alignment with the single market, Mr Streeting claims "I think people have moved on".

He adds: "People have moved on, the country has moved on, the EU has moved on.

"And let me tell you, not just here but in Brussels, there is no appetite to relitigate those arguments, to reopen things that have been settled.

"Actually, it's about a new friendship."

Labour looking for 'sweet spot' with EU

Mr Streeting conceded there were warnings about the economic impact of Brexit before the referendum - but it's a "fact of life" now.

The health secretary claims there's a "sweet spot" in working closely with the EU where possible - and "showing agility elsewhere".

He shares a story of a "business leader" who approached him saying: "There are a couple of EU regulations that are making life harder for us, they don't apply in the UK - can we have a conversation?"

This, he says, shows the way forward for Britain.

Politics latest: Ex-Google boss tells PM what's blocking investment (2025)

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