Prime Minister Keir Starmer has secured substantial new investments from Australian firms, totalling over £1 billion, as he continues his push to strengthen the British economy and attract foreign investment. The announcement came during Starmer’s historic visit to Samoa for the Commonwealth Heads of Government Meeting, marking the first time a sitting UK Prime Minister has visited a Pacific Island nation.
Among the latest commitments, Australian superannuation fund Aware Super has partnered with British property firm Delancey Real Estate to inject up to £1 billion into UK property. This initial investment will focus on high-value central London offices, where environmental upgrades will align with their shared objective of reducing carbon emissions.
AustralianSuper, the country’s largest pension fund, is also expanding its UK operations with plans to manage up to £250 billion in assets from its London hub by 2035. Currently handling around £15 billion in assets in the UK, AustralianSuper expects this tenfold growth to make London a cornerstone of its international investment strategy.
AustralianSuper’s CEO, Paul Schroder, who met with Prime Minister Starmer in Samoa, said the UK offers an attractive landscape for large-scale investments. “Our size requires an increasingly international focus,” Schroder commented. “We see the UK as a leading gateway to talent and global markets, which is vital for future returns.”
The latest investment commitments follow the success of last week’s International Investment Summit, where the UK government announced a total of £63 billion in foreign investment. This summit, which included participation from several high-profile Australian companies, is expected to create up to 38,000 jobs across the country. Among these companies, Macquarie committed £1.3 billion to green infrastructure, while IFM contributed £1.1 billion through Manchester Airports Group to expand London Stansted Airport’s terminal. This investment aims to secure new air routes, boost local supply chains, and generate 5,000 jobs.
Prime Minister Starmer welcomed the Australian investments as a “major vote of confidence” in the UK’s future as a hub for international business. “I am determined to make the UK the best place in the world to invest and do business, so we improve the lives of hardworking people,” he stated.
The government’s strategic focus on international partnerships also extends to other Commonwealth countries, as the UK secured Australian ratification of the CPTPP, advancing its accession to the Trans-Pacific trading bloc. The UK would be the first non-founding member of this group, marking a significant step in post-Brexit trade realignment.
Meanwhile, UK companies are expanding their influence in the Pacific region, with financial technology firms obconnect and Raidiam successfully introducing the British Confirmation of Payee (CoP) system to New Zealand’s banking sector. The initiative, in partnership with the New Zealand Banking Association, supports data sharing and fraud prevention. UK-based fintech Revolut has also grown its presence in New Zealand, increasing local staff to support its expanding customer base.
Australia’s significant investment is expected to bolster the UK’s economic stability, while showcasing Britain’s position as a major player in global markets. The Prime Minister’s tour in the Pacific underscores his government’s ongoing efforts to foster international trade relations and attract robust foreign investment to support UK growth.
