Badenoch calls for green investment for a ‘future-proof’ UK economy

The UK must “future proof” its economy by investing in cutting-edge green technology, said International Trade Secretary Kemi Badenoch.

In a speech at the Green Trade and Investment exhibition in Gateshead, Tyne and Wear on Tuesday, Ms Badenoch said new technologies to tackle climate change are creating well-paying skilled jobs while providing a pathway to future energy security.

His call comes amid warnings that British battery start-up Britishvolt, which was developing a £3.8billion gigafactory in Blyth, Northumberland, is facing potential administration, putting nearly of 300 jobs.

In her speech, Ms Badenoch is expected to highlight the UK’s success over the past two years in securing almost £20bn of inbound green investment, creating more than 11,000 new jobs.

In a statement ahead of her speech, she said: “We know that trade and investment grow our economy, create jobs and put money in people’s pockets – but they also have the power to raise the challenges we see in the world.

“Now is the time to future-proof our economy by investing in cutting-edge green technologies, protecting our long-term energy security and creating thousands of jobs in the industries of the future.

“I am committed to continuing to beat the trade drum for Britain to drive economic growth and level the UK for generations to come.”

Among the announcements expected at the event is confirmation of £26 million in funding for Northern Ireland-based bus builder Wrightbus to support the export of zero-emission buses around the world, including to Australia and Germany.

Meanwhile, Flogas will confirm a £50m investment to upgrade the Avonmouth terminal to store liquid petroleum gas and handle renewable biogas and hydrogen, opening up a potential global supply of renewable fuels to the UK.

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