A development north of Bristol will comprise 6,500 properties, three new schools and a 19,500-capacity arena
Sir Keir Starmer, the Prime Minister, held trade talks with his Malaysian counterpart Anwar Ibrahim at Downing Street as part of the Government’s efforts to attract investment and stimulate economic growth.
The discussions coincided with an announcement from Malaysian company YTL about its plans to invest £4bn in the UK over the next five years. This includes £2bn for a housing and arena development north of Bristol.
The Government has stated that the remaining £2bn will be invested in YTL’s UK businesses over the same period. Chancellor Rachel Reeves praised the investment, saying it “will boost growth, create good jobs and shows the UK is open for business”.
She added: “We will continue to go further and faster to kickstart growth to make all parts of the country better off.” The Brabazon Bristol project, located on the site of the former Filton airfield in South Gloucestershire, is one of the largest brownfield redevelopments in the UK.
It will eventually comprise 6,500 properties, three new schools and a 19,500-capacity arena. Business Secretary Jonathan Reynolds commented: “By creating the right conditions and giving investors the confidence they need to make big investments in Britain, our plan for change is delivering economic growth and showing the power of investment to transform our cities, and give working people the security they deserve.”
Downing Street reported that during their bilateral meeting, Sir Keir and his Malaysian counterpart “agreed on their shared ambition for economic growth”.
In a briefing on the high-level discussions, a spokesperson from Number 10 revealed: “The Prime Minister began by saying he was delighted to have the opportunity to host Prime Minister Anwar at No 10, and the leaders agreed that now was an opportune moment to strengthen the relationship between the UK and Malaysia.
“They discussed closer co-operation and to upgrade the relationship to a strategic partnership across trade and investment, education, clean energy and defence.Both agreed on their shared ambition for economic growth, and the Prime Minister reiterated that the UK is a great place to do business.”
“He welcomed the £4bin investment by YTL businesses announced today by Prime Minister Anwar which will deliver for people in Bristol, creating 30,000 jobs and building new homes on brownfield sites.
“They underscored their shared commitment to net zero ambitions and noted that clean energy will support future growth in both our countries.”
