US business is continuing to lose confidence in the UK as a place to invest as a result of Brexit, rising corporate taxes and a year of intense political turmoil in Westminster, new research has found.
A survey of 56 US companies operating in the UK for BritishAmerican Business, the transatlantic trade association, showed confidence in the UK falling for the third year in a row despite Rishi Sunak’s steadying hand in Downing Street after the turbulence of the Boris Johnson and Liz Truss administrations.
On a scale of 1 to 10, the average confidence rating among the US companies fell to 6.5 down from 7.3 in 2022. The decline of nearly a full point marked an acceleration in negative US sentiment towards the UK after a half-point drop between 2021-2022.