Almost three quarters of investors (73 per cent) in Leeds are optimistic about the prospects for the UK’s economy as politicians enter the last few weeks of the General Election campaign, according to a survey by UBS Wealth Management.
This sentiment chimes with the positive growth forecasts announced in George Osborne’s 2015 budget. He predicted that the UK economy will continue to grow above European rivals at a rate of between 2.3 and 2.5 per cent.
Andrew Aitken, regional head of UBS Wealth Management, Yorkshire, said: “Investors in the region are increasingly confident about 2015. We’ve noticed an increase in client activity, with business owners and managers increasingly investing in their businesses, taking on more staff and exploring a broader range of opportunities with their personal investments and wealth.
“The General Election may well change this sentiment, especially if we are faced with a scenario where no party can form a stable coalition.”
Investors do not feel the buoyant economic climate will cause interest rates to rise anytime soon. Over half (53 per cent) of respondents are not expecting any movement until 2016.
Bill O’Neill, head of investment office, UBS Wealth Management, said: “We are very optimistic about the UK economy and confident that economic growth will be felt beyond the South. The UK will remain among the best performing G7 economies this year as we see business and consumer confidence increase and real incomes grow.”