DP World Cancels £1bn Investment in UK

DP World, the Dubai-based owner of P&O Ferries, has postponed a planned £1 billion investment announcement for its London Gateway port due to strong criticism from UK ministers. Transport Secretary Louise Haigh and Deputy Prime Minister Angela Rayner labeled P&O Ferries a 'rogue operator' for its controversial decision in 2022 to dismiss 800 British seafarers in favor of cheaper foreign labor. This criticism coincided with the government's introduction of new legislation aimed at protecting seafarers, which was seen as undermining the planned investment summit intended to attract foreign business. Keir Starmer, the Labour leader, avoided directly addressing the issue, emphasizing the summit's potential for economic growth. The situation has raised concerns about the government's ability to engage with investors and the impact of political rhetoric on foreign investments. The investment summit, attended by prominent business leaders, is crucial for showcasing the UK’s investment potential amid rising economic challenges.