Business investment here in Britain is now expected to see a strong rebound next year. The reasons behind the anticipated turnaround in 2022 is a generous tax incentive offered by the UK Government and a need for assets being upgraded that have been neglected to date due to uncertainties related to the COVID-19 pandemic and Britain’s departure from Europe.
Recent reports indicate that most leading economists forecast that, in 2022, capital expenditure will likely grow at what will be its fastest rate recorded in years. This factor, as well as consumer consumption, will drive forward economic growth in the UK. However, some sceptics have suggested that the two-year “super-deduction” incentive, which expires in 2023, may only bring forward limited investment and may not create as much new spending as some economists are speculating.
British consumers seeking expert investment advice in Chester, Birmingham, Sheffield and other major UK cities often look to wealth managers for guidance. Able to offer both general and specialised financial advice, they offer a comprehensive range of services, including portfolio management and financial protection plans.
UK experts have argued that business investment is set to be a significant driver for growth next year. Enterprises based in Britain are currently holding around £140 billion more in funds than they had prior to the pandemic, and they possess an extensive project backlog that is also likely to have mounted up over during UK Government enforced lockdowns. This puts the firms in a strong position to make investments in 2022.