The U.K. Labour government is hoping to woo foreign capital to the country on Monday as it hosts its inaugural International Investment Summit in London.
Former Google chair Eric Schmidt, Goldman Sachs CEO David Solomon and GSK CEO Emma Walmsley are among the guests expected in attendance.LONDON — The U.K. Labour government is hoping to woo foreign capital to the country on Monday, as it hosts its inaugural International Investment Summit in London. However, would-be attendees and observers expressed frustration to CNBC about the lack of information surrounding the summit, with details on location and timing withheld until Thursday. Some said ahead of time that they would not be attending, while others were still"The uncertainty of what's happening is undermining the event," Dr. Bruce Morley, economics and finance lecturer at the University of Bath, told CNBC over the phone."There is a lot of speculation.
Capital gains tax and inheritance tax hikes remain on the table, however, with the chancellor reportedly considering raising CGT as high as 39% for top-rate taxpayers,The event is part of Starmer's pledge to lead the most"pro-business" Labour government, with the prime minister telling CNBC last month that his"number one priority was wealth creation," as he used a visit to the U.S. to wooin office.