Richard Buxton

Is the UK uninvestable?

It is always a pleasure to spend time in the company of Messrs Neil, Nelson and Forsyth. True to form, an evening of lively dialogue, in a packed auditorium at the Royal Institute of British Architects, discussing the implications of the chancellor’s spring statement last week, did not disappoint.

Prior to the event I have to admit to being a tad gloomy. This had less to do with the cold I was nursing, and more to do with a call I received recently from a broker friend of mine. He told me that one of his clients, running a multi-billion dollar global equity fund out of New York, had just sold his last remaining UK equity. Hardly music to the ears of an UK equity fund manager.

My rather sombre mood, however, gave way to a greater degree of optimism following the results of an online Twitter poll, the results of which I announced on the night of The Spectator’s post-spring statement event.

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