Sunak welcomes foreign firms’ £29.5bn ‘vote of confidence’

Prime Minister Rishi Sunak is set to host a group of leading business figures on Monday to highlight plans for foreign firms’ to invest in the UK. 

Sunak said £29.5bn of new investment had been promised, which he described as a “huge vote of confidence” in the UK economy.

Chancellor Jeremy Hunt’s Autumn Statement, released last week, included a raft of measures to encourage more business investment. 

But it came against a backdrop of lower growth forecasts. 

The measures announced in the budget were designed to persuade domestic firms to invest more.