The 2024 Transatlantic Confidence Index, published by BritishAmerican Business and Bain and Company, reflects a stable outlook among British and American businesses regarding their economic ties, despite ongoing political uncertainties due to national elections in both countries. US investors' confidence in the UK increased marginally to 6.6, as evidenced by the index's score of 7.1 out of 10, which is up from 7.0 in 2023. The transatlantic economic corridor is characterized by a positive sentiment, as evidenced by the high level of confidence in the US among UK companies, which remains at 8.4. The survey also indicates that businesses are planning to maintain or increase their investment levels in both markets, citing the need for stable policies and stronger economic collaboration as critical priorities.
Concerns surrounding tax competitiveness emerged prominently in the findings, with over 70% of US companies identifying the UK tax environment as a top concern, reflecting anxiety over recent corporate tax increases. Additionally, a majority of respondents expressed support for a full free-trade agreement between the US and UK, emphasizing the need for greater economic partnership. As businesses navigate a landscape of geopolitical and technological disruptions, the results of the index highlight the enduring strength of US-UK economic relations and the importance of policy stability to foster future growth.
