Asked by: Baroness Alexander of Cleveden (Labour - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government what assessment they have made of the potential impact of the recent state visit by the President of the United States of America on business in the UK, in particular in Scotland.
Answered by Lord Stockwood - Minister of State (HM Treasury)
The historic state visit by President Trump demonstrated the unique depth, breadth, and importance of the UK-US relationship.
Businesses across the UK are set to benefit from over £150 billion of inward investment announced during the visit – the largest amount ever linked to a visit of this kind.
Businesses across Scotland are set to benefit from major new investments announced during the state visit, including a £1.5 billion commitment from CoreWeave to boost data centre capacity, which will include them partnering with DataVita in Lanarkshire to build one of Europe’s largest, most efficient AI data centres and significant expansion plans from BlackRock in Edinburgh nearly doubling their workforce to 1400. These investments will support jobs, innovation, and long-term growth in Scotland and across the UK.