London, September 6 (FinanceFlashNews) – The UK requires an additional £1 trillion (€1.19 trillion) in investments over the next decade to strengthen its economy, according to the City of London Corporation. To achieve a 3% annual growth rate, the UK will need £100 billion in investments per year, with a focus on sectors such as energy, housing, and venture capital.
According to Nigel Wilson, lead author of the report and former CEO of Legal & General, the UK has access to £6 trillion in long-term capital stored in pension and insurance sectors, which could be redirected into these essential investments. Wilson highlighted that insufficient investments over the years have widened the gap between the UK and its G7 counterparts.
The report specifies that the UK needs £50 billion annually for energy projects, particularly in efforts to achieve net zero emissions. It also calls for £30 billion per year in housing investments and £20 to £30 billion in venture capital. The government is also advised to explore investment incentives, such as tax reliefs for retail investors.
Required Annual Investments for UK Economic Growth (in billions GBP):
| Sector | Required Annual Investment (GBP) |
|---|---|
| Energy | 50 |
| Housing | 30 |
| Venture Capital | 20-30 |
| Total Investment | 100 |
These investments are crucial to secure the long-term growth and stability of the UK economy.
Keywords: UK, investments, energy, housing, venture capital, long-term capital
