Japanese firms pledge to pump £18bn into UK projects as Sunak lands in Hiroshima

18 May 2023 , 09:20

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Rishi Sunak delivered a speech at the Mori Art Museum, Tokyo (Image: Getty Images)

Japanese firms today vowed to invest almost £18billion in projects across Britain.

No10 said the funding includes cash for clean energy projects including offshore wind and housing in London.

It came as Rishi Sunak met with leading Japanese companies in Tokyo today on the first leg of his four-day visit to the country.

Downing Street said the total £17.7billion will include £3.5million from Mitsubishi Estate and Mitsui Fudosan, two of the largest real estate companies in Japan.

They claimed the projects will build affordable housing, office space and a life-science laboratory in the capital.

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Earlier this week, however, the Mayor of London Sadiq Khan warned the capital was facing a major housing crisis that is "turbo-charging inequalities in wealth, health and happiness".

Mr Sunak's wife Akshata Murty is travelling with him in Japan (AP)

In a statement, Mr Sunak said: "These new investments are a massive vote of confidence in the UK's dynamic economy from some of Japan's top firms.

"Working with the Government and British industry they will create the kind of high-quality, reliable jobs and transformative local investment we are delivering around the country".

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Ashley Cowburn