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Some of the world's biggest companies have expressed confidence in the UK economy ahead of the government's first international investment summit in London.
More than a dozen business leaders have signed a letter in The Times, arguing that greater stability has increased the UK's attractiveness.
At the conference, Prime Minister Sir Keir Starmer will promise to scrap regulations that “unnecessarily dampen investment”.
However, the government faces a balancing act ahead of the budget in two weeks, having already signaled that some taxes would rise.
On Sunday, Business Secretary Jonathan Reynolds did not rule out an increase in the national insurance rate paid by employers.
Labor pledged in its manifesto not to increase national insurance. But Reynolds told Sky News: “That commitment was about taxes on workers, so that was specifically in the manifesto, a reference to employees and income tax.”
The letter to The Times, signed by major banks including Goldman Sachs and JP Morgan and insurance companies including Aviva, says there is a “very real opportunity for the UK to grow its economy by attracting international investment “.
“We are optimistic about the future of the economy and believe it is time to invest in Britain,” the letter said.
Preparations for the conference were overshadowed by a row over comments made by a minister about P&O Ferries.
A £1 billion investment in an Essex port by P&O Ferries owner DP World appeared to be in doubt after Transport Secretary Louise Haigh branded the ferry company an “operator thug.”
Haigh was publicly reprimanded by the Prime Minister, and DP World will now attend the conference, alongside the bosses of investment giants such as Blackrock and L&G.
Australian company Macquarie, accused of saddling Thames Water with unsustainable debts while it was its largest shareholder, promises to invest £20 billion in the UK over the next five years, including in a network charging for electric cars.
The conference will take place at the Guildhall in London and will feature keynote speeches from the Prime Minister and Chancellor Rachel Reeves.
In his speech, Sir Keir will say he will “do everything in his power to galvanize growth, including removing regulations that unnecessarily inhibit investment”.
