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Former Google CEO recommends UK to expand ‘highly skilled immigration’ at Labour business summit – live updates | Business


Former Google CEO Eric Schmidt is urging the UK to expand high-skilled immigration to attract talent needed for the artificial intelligence revolution. Schmidt emphasized the importance of retaining or bringing in smart individuals with AI expertise, acknowledging the complexity of the technology and the need for skilled workers. He highlighted the love many people have for living in Britain and suggested that with the right leadership, the UK can attract the necessary talent.

In response to criticism from Prime Minister Keir Starmer, the Competitions and Markets Authority defended its commitment to driving growth and innovation. Australia’s Macquarie Group announced a £20 billion investment package in the UK, focusing on fast-charging electric vehicle infrastructure and other sustainable projects.

Despite Starmer’s pledge to attract investors by cutting red tape, some criticize this move as potentially detrimental to environmental standards and workers’ rights. London Mayor Sadiq Khan hopes for closer alignment with the EU to facilitate trade and economic success.

The UK’s industrial strategy, Invest 2035, aims to drive growth by capitalizing on strengths and creating jobs in various sectors. However, the strategy lacks focus on migration, which Schmidt identified as a crucial factor in attracting AI talent. Protests against projects such as Sizewell C nuclear plant and Stansted airport expansion call for more investment in renewable energy and sustainable infrastructure.

At the international investment summit, Labour is pulling out all the stops, with Sir Elton John set to perform at a dinner reception attended by prominent figures. The summit aims to showcase the UK’s cultural capital as an attractive investment opportunity. Universal Music Group Chair Lucian Grainge emphasized the UK’s appeal for investment due to its rule of law and respect for innovation and creativity.

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Photo credit www.theguardian.com

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