Barclays boosts support to UK businesses and consumers
Barclays Business Prosperity Index from 18 November showed that UK businesses were in a cautious mode ahead of the government’s Autumn Budget, with over half of businesses delaying investment decisions until after the fiscal event. Despite uncertainty in the external environment, business leaders showed confidence in the future of their own business and were poised to push ahead with investments pending the contents of the Budget.
According to Barclays October Consumer Spend report, consumer sentiment shows similar caution pre-Budget, with one in three holding off on major purchasing decisions until after the announcement.
With the Budget now announced, Barclays is reiterating its commitment to the UK, boosting support for businesses and consumers with approximately £45bn of increased lending over the next three years. This reinforces Barclays’ strategy to grow in the UK where we have seen positive momentum in lending across retail customers and businesses nationwide.
C S Venkatakrishnan, group chief executive, said: “We believe in the strength and dynamism of the UK. Since 2024 Barclays has invested significant capital into our UK divisions to support our customers and UK businesses. Over the next three years, we will increase our lending by approximately £45bn, alongside £4.4bn of direct investment in our own UK operations. Barclays continues to invest in the UK, driving prosperity for the customers, clients and communities we serve. Together we will mobilise economic growth across the UK.”