P&O owner DP World is to attend a highly anticipated investment summit (Image: Getty)
P&O owner DP World is to attend a highly anticipated investment summit after a ￡1bn investment row.
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It had been feared they might pull out from the UK's Investment Summit on Monday after the company's owners, Dubai-based DP World, decided to review their investment after Transport Secretary Louise Haigh called them a "rogue operator" after mass layoffs.
The investment was due to be unveiled at the flagship summit in London on Monday where Sir Keir Starmer will pitch the UK as "open for business" as part of his bid to drive growth into the country.
This withdrawl of crucial funding is a significant blow to Starmer's economic plan.
Louise Haigh called them a "rogue operator" after mass layoffs (Image: Getty)
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Haigh told ITV: "I've been boycotting P&O Ferries for two and a half years and I'd encourage consumers to do the same.
"They're a rogue operator. We're cracking down on the way that they treated employees, and we want to see them mirror the standards of other operators that come in and out of Great Britain's waters.”
Whitehall sources said on Saturday that there had been "warm engagement" between senior figures in the firm and the government since Sir Keir Starmer distanced told Newscast that Haigh's opinion on P&O is "not the view of the government".
DP World has said the expansion of the London Gateway port would bring Thurrock hundreds of jobs.
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Shadow Business and Trade Secretary Kevin Hollinrake said: “On the eve of this much vaunted inward investment event, this is a body blow for the Government and shows that Labour Cabinet ministers have never been in business, don’t understand business and don’t know how to talk to business. They just haven’t got a clue.
"Just 100 days in, new investment should be rolling in, not being scared off because of anti-business statements or worries about the impact of Labour's employment and tax policies.”
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Angela Rayner ‘hopping mad' over Labour investment meltdown days before major summit
618 Comments
Moment Laura Kuenssberg leaves Labour minister squirming as she exposes huge blunder
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Bam! Angela Rayner's big mouth has cost the UK ￡1bn, just like that
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Ministers deny government is a 'soft touch' after approving bonus for train guards
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Angela Rayner ‘hopping mad' over Labour investment meltdown days before major summit
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Moment Laura Kuenssberg leaves Labour minister squirming as she exposes huge blunder
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80 Comments
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118 Comments
I was in the room at Labour's investment summit and there was one repeated feeling
1263 Comments
Bam! Angela Rayner's big mouth has cost the UK ￡1bn, just like that
877 Comments
Ministers deny government is a 'soft touch' after approving bonus for train guards
90 Comments
Rachel Reeves warned "jobs tax" will destroy business confidence
40 Comments
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461 Comments
National Insurance 'jobs tax' warning as pubs and hotels say they cannot take any more
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143 Comments
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649 Comments
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549 Comments
Labour government must urgently promote UK economy
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607 Comments
Angela Rayner ‘hopping mad' over Labour investment meltdown days before major summit
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118 Comments
I was in the room at Labour's investment summit and there was one repeated feeling
1263 Comments
Bam! Angela Rayner's big mouth has cost the UK ￡1bn, just like that
877 Comments
Ministers deny government is a 'soft touch' after approving bonus for train guards
90 Comments
This news comes days after Rachel Reeves was issued serious warnings over raising capital gains tax to 39 percent, which she is expected to do in her October 30 Budget to fill a ￡22billionn "black hole" in spending.