Surge in foreign investment for 2024.
Surge in foreign investment for 2024.
After the tax break on firms being made permanent (for every £1 spent on equipment, plants and IT 25p can be claimed back), and the increase in domestic investment by £3bn from 2022. More foreign firms are now looking to invest in the UK , this will hopefully result in a speedier recovery of the economy. In total around £29.5bn will be invested by foreign firms in the near future.
However, this does come with costs, the West Midlands to Manchester high speed rail line is now cancelled as well as an auction intending to attract foreign energy investment in wind farms failed to attract any investors.
Sunak welcomes foreign firms’ £29.5bn ‘vote of confidence’ – BBC News