Investors enticed by UK growth prospects despite EU vote

INVESTORS view the UK as a more valuable place for growth despite widespread concerns over Britain’s future outside the European Union, according to a report.

Analysis by PwC found the UK is now equal third with Germany for company growth prospects, rising from fourth place in 2016.

The US and China top the table. The report, compiled from interviews with more than 550 global investment professionals and around 1,300 chief executives, said investors eyeing technology and financial industries had put the UK among the top three.

Hilary Eastman, head of global investor engagement at PwC, said: “It’s striking that the UK is now seen as more important, particularly by investment professionals.

“Importance could be interpreted in a positive light – that the countries selected would be those expected to grow most or fastest.

“On that basis, the Brexit vote and all the uncertainty surrounding the UK’s relationship with the EU appear not to deter investors.” On global economic growth, 45 per cent of investors and analysts were confident about growth prospects, up from 22 per cent last year.

However, investors pinpointed geopolitical uncertainty as the key threat to company growth, with the future of the eurozone and protectionist policies also high on the agenda.