Liam Fox hails record foreign investment into UK in 2015/16

Posted On: 
30th August 2016

Liam Fox has welcomed new figures showing a record number of foreign investments in the UK last year, describing Britain as the “number one destination in Europe”.

Liam Fox was appointed International Trade Secretary when Theresa May became prime minister
Credit: 
The House magazine

The Department for International Trade has published figures showing 2,213 inward investment projects were agreed in the year to April, up 11% on the previous year.

Those deals meant 116,000 British jobs were created or safeguarded, the Government added

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The statistics cover the period before the UK chose to leave the European Union.

International Trade Secretary Dr Fox, a leading advocate of Brexit, said: “These impressive results show the UK continues to be the place to do business.

“We’ve broadened our reach with emerging markets across the world to cement our position as the number one destination in Europe for investment.

“This continued vote of confidence in the UK will help attract foreign investment to create jobs, security and opportunities for people across the UK.”

Adam Marshall, the acting director general of the British Chambers of Commerce, stressed the importance of Britain continuing to attract foreign direct investment as it leaves the EU.

“Keeping the UK attractive to overseas investors is important for our future success,” he said.

“Last year’s up-tick in foreign direct investment is a welcome boost to business, and a good indicator of underlying confidence in the UK economy.

“As Britain approaches a time of economic change, we must continue to welcome investors that are willing to make a sustained, long-term commitment all across the country.”

The US was the largest investor last year, with 570 deals originating there, followed by China and India.