UK given business ‘vote of confidence’ after ranking second-most attractive nation to invest in
Share:
The wide-ranging survey revealed a ‘vote of confidence in the UK’ as it placed above China and India. Britain has leapfrogged Germany, China and India to become the second most attractive country for investment behind America for the first time in PwC’s annual UK CEO survey.
In a boost to embattled Chancellor Rachel Reeves, the poll showed the UK moved up from being the fourth most important destination for investment the previous year, while it also revealed top bosses see a brighter economic outlook for Britain in 2025.
It comes after further breathing space was afforded Reeves as gilt yields fell back slightly last week after a sharp rise, while data for the UK economy also showed a surprise 0.1 per cent growth for November. The PwC survey cheered the findings as a “vote of confidence in the UK”, showing that 14% of worldwide CEOs believe the UK will receive the greatest proportion of international investment, behind only the US, with 30%.
They are followed by Germany with 12 per cent, China with 9 per cent and India with 7 per cent in the top five. The survey found that nearly two thirds (61 per cent) of UK chief executives are optimistic about UK economic growth in the next 12 months, up from just 39 per cent in 2023.
It comes after Ms Reeves faced mounting questions over flagging UK growth, the impact of her recent Budget measures and rising UK debt levels, with concerns seeing the pound slump and Government borrowing costs spike sharply earlier this month. Last week’s weaker-than-expected growth figures, showing a meagre 0.1 per cent expansion in November, heightened fears of a stalling economy.
