Business

UK is SECOND most attractive country for investment according to CEOs

Published

12 months ago

January 22, 2025

Booming Britain is the world’s second-favourite place to place to invest – just behind the USA – according to a survey of global business leaders.

Around 14 per cent of the near-5,000 corporate bosses surveyed by PwC say they expect the UK to receive the most international investment in the next year.

The survey, published as the World Economic Forum gets underway in Davos, will be a boon to Chancellor Rachel Reeves after criticism of her Autumn Budget and higher-than-expected inflation.

Experts believe that the UK’s relative stability amid global economic uncertainty makes it a favourite for additional investment – and comes ahead of an expected cut in interest rates by the Bank of England amid rising wages.

Britain’s second-place ranking in the PwC CEO Survey is its best since the poll began 28 years ago, and is two places up from fourth last year.

It came second to the US (30 per cent) – and ahead of Germany, China and India (12, nine and seven per cent respectively).

The results suggest Britain is in a prime spot for an influx of investment as competing nations face growing economic crises.

Germany is in the midst of a years-long recession, while China is battling uncertainty after the EU slapped import tariffs on cars while Donald Trumpmulls over tough taxes for Chinese goods.

Britain has been named the second best place to invest this year in a poll of 5,000 CEOs from 109 countries

The survey has been welcomed by Chancellor Rachel Reeves, who said it was proof CEOs were ‘backing Britain’ under Labour

And 61 per cent of British CEOs say the country is in line for economic growth – up from just 39 per cent last year.

Experts speaking to MailOnline say there are a number of reasons Britain may attract investment from abroad, including in property, where prices are steady amid an ongoing housing shortage.

Jonathan Gordon, director of wealth at property investment firm IP Global, said: ‘In the context of property, the UK offers much needed stability to global investors.

‘This is not just applicable to London, but up and coming markets like Manchester and Birmingham have shown resilience in the face of global turmoil due to a constant flow of demand.’

Responding to the survey, the Chancellor said: ‘These latest results show global CEOs are backing Britain and the UK is one of the most attractive destinations for international investment.

‘And it’s this investment that will help drive economic growth and improve living standards across the UK.’

Marco Amitrano, senior partner at PwC UK, said: ‘Our CEO survey findings are a vote of confidence in the UK as a place for business and investment.

‘The UK’s relative stability at a time of instability should not be underestimated, nor should its strength in key sectors including technology.

‘However, there is no room for complacency.’

The Bank of England (pictured) is expected to announce a cut in interest rates next month amid wage growth in the private sector – a boon for business

There are concerns the UK’s economy is stalling after official figures showed it grew just 0.1 per cent in November, and a run on UK Government bonds, known as gilts.

The survey data suggests more than half of UK CEOs plan to increase the size of their workforce this year – even as the Chancellor imposes hikes in national insurance and a cut in the threshold at which NI is paid from April.

Interest rates are set to be cut next month after wages rose 5.6 per cent in the three months to November, up from 5.2 per cent the previous three months.

But British bosses are also slightly less positive about the future of their own firms than they were before Labour came in – with confidence dropping from 61 per cent in 2024 to 57 per cent now.

David Belle, a broker and founder of Fink Money, has warned that the UK’s weak pound means investors may simply be using Britain to do business on the cheap before taking their money elsewhere.

‘With a weaker sterling and almost zero demand from UK citizens to own shares in UK companies, there is no bid keeping share prices higher like there is in the US, Canada and Australia,’ he told MailOnline.

‘So any foreign investor is going to see the UK as a place where they can buy assets cheap relative to future cash flows.

‘It’s a sleight of hand to hail this as a UK win. In reality, it’s the opposite.’

Rachel Reeves is travelling to the World Economic Forum in Davos this week, where she will urge company bosses to invest in the UK – likely boosted by the survey results and an upgrade of Britain’s forecasted growth by the IMF.

The international body believes Britain will see a 1.6 per cent expansion this year – slightly up from the 1.5 per cent it pencilled in last October.

‘The time to invest in Britain is now,’ she said in a statement.

She had last been seen gallivanting in China to secure £600million of investment – criticised as a meagre amount in a country with a nominal GDP of $18.5trillion –

But Ray Dalio, billionaire founder of hedge fund Bridgewater, told the Financial Times that the UK could be heading for a debt ‘death spiral’ in which it has to borrow more to cover its rising interest costs.

Business

LIRS reiterates January 31st deadline for employers’ Annual Tax returns filing

Published

2 days ago

January 19, 2026

Ekwutos Blog

The Lagos State Internal Revenue Service (LIRS) has reiterated the statutory deadline of 31st January 2026 for all employers of labour in Lagos State to fulfil their statutory obligation to file their annual tax returns for the 2025 financial year.

In a statement issued on Thursday, January 19, the Executive Chairman of LIRS, Dr Ayodele Subair, reminded employers that the obligation to file annual returns is in accordance with the provisions of the Nigeria Tax Administration Act 2025 (NTAA).

Dr Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to their service providers, vendors and consultants, and to ensure that all applicable taxes due for the year 2025 are fully remitted. He emphasised that filing of annual returns is a mandatory legal obligation, and warned that failure to comply will result in statutory sanctions, including administrative penalties, as prescribed under the new tax law.

According to Section 14 of the Nigeria Tax Administration Act 2025 (NTAA), employers are required to file detailed annual returns of all emoluments paid to employees, including taxes deducted and remitted to relevant tax authorities. Such returns must be filed and submitted not later than January 31 each year.

Dr Subair stated

“Employers must prioritise the timely filing of their annual income tax returns. Compliance should be part of our everyday business practice. Early and accurate filing not only ensures adherence to the law as required by the Nigerian Constitution, but also supports effective revenue tracking, which is important to Lagos State’s fiscal planning and sustainability.”

He further noted that in Lagos State, electronic filing via the LIRS eTax platform remains the only approved and acceptable mode of filing, as manual submissions have been completely phased out. This measure, he said, is aimed at simplifying and standardising tax administration processes in the State.

Business

Nigeria, UAE sign trade deal to eliminate tariffs on thousands of products

Published

7 days ago

January 14, 2026

Ekwutos Blog

President Bola Ahmed Tinubu has announced the signing of a Comprehensive Economic Partnership Agreement between Nigeria and the United Arab Emirates in Abu Dhabi that would open duty-free access for thousands of Nigerian products into the Arab country.Nigerian Events Calendar

In a statement shared on his X handle on Tuesday, January 13, President Tinubu disclosed that the agreement was signed while attending Abu Dhabi Sustainability Week at the invitation of UAE President Sheikh Mohamed bin Zayed Al Nahyan.

He stated that asides granting duty-free access for thousands of Nigerian products into the UAE market, the agreement will expand opportunities for exporters, manufacturers, and service providers, and provides clearer investment confidence for UAE investors in Nigeria’s productive economy.

The President described the agreement as part of Nigeria’s ongoing economic reform efforts and said it was aimed at delivering long-term benefits for both countries.

“This agreement is the result of sustained and disciplined work led by Minister Dr Jumoke Oduwole for Nigeria and by Minister Thani bin Ahmed Al Zeyoudi for the UAE. I commend both ministers and their teams for the seriousness and clarity that brought these negotiations to a conclusion.

For Nigerians, this agreement is not abstract. It opens duty-free access for thousands of Nigerian products into the UAE, expands opportunities for our exporters, manufacturers, and service providers, and gives UAE investors clearer confidence to back Nigeria’s productive economy. This comprehensive agreement also supports our industrialisation and diversification goals and strengthens Nigeria’s position as a gateway for trade and investment into Africa.

This is the work of economic reform, purposeful engagement, and measured partnerships. The outcomes will serve Nigeria’s long-term national interest.

May the renewed relationship between Nigeria and the United Arab Emirates continue to yield sustained dividends for both nations and our peoples.”

Business

Gold prices recover

Published

2 weeks ago

January 10, 2026

Ekwutos Blog

Gold jewelry on display in a shop in Hanoi. Photo by VnExpress/Giang Huy

Gold prices rebounded Saturday morning, reversing a slip earlier this week.

Saigon Jewelry Company gold bar jumped 0.95% to VND159.8 million (US$6,082.99) per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold ring was steady at VND156.8 million per tael. Bullion has risen 84% year-on-year.

Globally gold prices rose on Friday and were on track for a weekly gain, as investors weighed weaker-than-expected U.S. payrolls data along with broader policy and geopolitical uncertainty, Reuters reported.

Spot gold was up 0.5% at $4,496.09 per ounce and was set for about 3.9% weekly gain. Bullion hit a record high of $4,549.71 on Dec. 26.

“Payrolls are showing us a poor job creation environment. Potentially more (geopolitical tension), somewhat higher oil prices, which are inflationary, uncertainty and an easing Fed – all a combination for precious metals,” said Bart Melek, global head of commodity strategy at TD Securities.

Market participants continued to factor in at least two Federal Reserve rate cuts this year, a backdrop historically favorable for gold.