UK and Japan set to agree investment deal worth £18billion

UK and Japan set to agree investment deal worth £18billion The Prime Minister Keir Starmer will welcome his Japanese counterpart Sanae Takaichi to Downing Street on Sunday ahead of the crucial G7 summit with other world leaders next week The UK and Japan are set to agree £18 billion worth of investment, creating tens of thousands of jobs. The Prime Minister will welcome his Japanese counterpart Sanae Takaichi to Downing Street on Sunday ahead of the crucial G7 summit next week. It comes after the PM's leadership took another blow after the shock resignation of John Healey as defence secretary over a dispute about long-term funding for the military. Mr Healey's exit sparked a wider exodus, with armed forces minister Al Carns also quitting the Governmennt, as well as two parliamentary aides, heaping pressure on the PM, who is already facing the threat of a leadership challenge. Under the agreement, more than 10 commercial and government agreements are expected to be signed including a £9 billion offshore wind deal. It will also include Rolls-Royce deepening its collaboration with Japan’s Atomic Energy Agency, Downing Street said, signing a new agreement to develop next generation technologies. Japanese and British business leaders will join for a discussion on future opportunities for economic growth. The PM said: “These landmark agreements will bring multibillion-pound investment into the UK, creating tens of thousands of new jobs and driving new developments. “As G7 economies and close security partners, we are working together with Japan on some of the most innovative technology in the world, harnessing the best of British and Japanese research and industry to deliver growth and security to every corner of the United Kingdom.” Discussions will also include helping UK defence firms access Japanese investment, No 10 said. The jobs announcement comes as the Government pledged to help more people into work, following a bombshell report warning that 1.25million young people could be out of work, training or education within the next five years. Last month former cabinet member Alan Milburn warned the welfare state and health systems used by young people are no longer fit for purpose. The latest Office for National Statistics figures published in February showed around 957,000 young people aged between 18 and 24 are estimated to be ‘Neets’ - or one in eight.