Burnham to delay flagship investment summit until next year

Andy Burnham has shelved Sir Keir Starmer's plan to hold a flagship investment event later this year, with the next summit expected to take place outside London as part of the prime minister's effort to shift economic power into Britain's regions.

Sky News has learnt that government officials have decided to abort proposals for an event which had been pencilled in by the former prime minister to take place in London on 1 December.

Sources said that Mr Burnham's team was now keen for a Global Investment Summit to take place in the spring of next year, with the precise location as yet undecided.

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Initial preparations had been under way for the December showcase, which would have seen invitations issued to the chief executives of many of the world's biggest companies and investment institutions.

The government sought to claim that the last such event, which was called the International Investment Summit when it took place in October 2024, was responsible for securing £63bn in inward investment for the UK.

Boris Johnson and Rishi Sunak, the former Conservative PMs, both convened similar summits in an effort to demonstrate the British economy's continued ability to draw billions of pounds of external investment.

Among those who have attended previous events, which have featured receptions hosted by senior members of the Royal Family, were the bosses of JPMorgan, Goldman Sachs, Blackstone and BlackRock.

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Ahead of a budget next month which has sparked fears among the wealthy and the business community of severe tax rises, Mr Burnham is seeking to position himself as a pro-growth politician.

Earlier this week, John Healey, the chancellor, hosted business leaders in Downing Street, stepping in at short notice after the death of the PM's father.

Mr Burnham had intended to address private sector bosses by telling them that the government wanted to be a "partner for growth" through policies aimed at stimulating employment and investment.

Some business leaders contacted by Sky News questioned the merits of staging a flagship investment event outside London.

"It feels performative," said one. "They won't get the names or numbers they want if they pursue this plan."

A government spokesperson said: "Any announcements on future summits will be made in the usual way."

(c) Sky News 2026: Burnham to delay flagship investment summit until next year