Bosses at five of the world’s biggest banks, along with a host of insurers, private equity firms and tech giants, have backed a push to invest in the UK ahead of the government’s flagship investment summit today.
More than a dozen executives signed a letter stating that they were optimistic about the future of the British economy in the Times today, stating that it was “time to invest in Britain”.
Banking signatories included Goldman Sachs chief executive David Solomon, Bank of America international president Bernard Mensah, and the heads of banking at JP Morgan and Citi.
They were joined by private equity giants such as Blackstone president Jonathan Gray and KKR’s co-head of European private equity Philipp Freise, as well as insurers like Aviva CEO Amanda Blanc and Legal & General chief executive António Simões.
“As global investors, we believe that there is a very real opportunity for the UK to grow its economy by attracting international investment,” the letter read.
“Britain’s educational establishments, legal system, financial services sector and language form the bedrock of a strong investment proposition.
“Technological developments, advances in the energy system and greater freedom in capital flows have further enhanced Britain’s position.
With greater stability, its attractiveness is increased even further. We are optimistic about the future of the economy, and believe it is time to invest in Britain
The letter comes ahead of Prime Minister Keir Starmer’s inaugural International Investment Summit, which kicks off today at the Guildhall with hundreds of the world’s top business leaders are expected to gather in attendance.
Billions of pounds worth of investments in sectors such as artificial intelligence, life sciences and infrastructure are set to be unveiled at the summit, with Sky News reporting that the total amount of investment to be pledged by businesses could be as high as £50bn.