United Kingdom Prime Minister Keir Starmer said on Monday that Italy plans to invest £485 million into the UK.

Speaking at a joint press briefing with Italian Prime Minister Giorgia Meloni, Starmer detailed that the investments will be made by two companies in particular, Leonardo S.p.A. and Marcegaglia. In 2024, Leonardo will be putting £435 million into their Yeovil site, as well as technology development and research programs. Meanwhile, Marcegaglia will invest £50 million in Sheffield, with the aim of constructing a new clean steel electric arc furnace.

Starmer commented that these steps will "drive growth for both sides, create jobs, and improve people's lives."