The government makes all sorts of claims about the threat to inward investment to the UK should we leave the EU’s clutches and the BBC does little to dispel such notions. Hence we bring you this piece of puffery from the government from last year in which they boast of their success in attracting record levels of investment to the UK…due to the government’s fabled long term economic plan, their hard work in chasing investment from around the world, the UK infrastructure, the regulatory system, the attractive tax rates, the skilled work force, the R&D levels…and the government strategy that gives the UK the competitive edge in the world…..what’s missing from all that is any mention of the EU which we are now assured is the main reason for investment into the UK…the closeness of the EU market and access to free trade via the UK. However in the full report again there is no mention that the EU is a factor in driving investment towards the UK and only one company of the many highlighted as examples mentions that it chose the UK as a base to export to Europe…but even that is open to interpretation.
UK wins a record number of investment projects and maintains position as top investment destination in Europe
Prime Minister David Cameron said:
The scale of foreign investment is a huge success story which shows that Britain is the place to do business and is more evidence that our long term economic plan is working. Securing investment from overseas is a key part of our One Nation policies to create thousands of jobs, provide security and opportunities for working people throughout the UK.
Trade and Investment Minister Lord Maude said:
2014 was an exceptional year for UK inward investment and we are proud to be bucking the global trend. The UK is a great place for entrepreneurs and corporations to put their energy, their ideas, their money and their talents to work. The Government will continue to work hard to attract investment from across the globe to further strengthen the UK economy.
UKTI statistics show that FDI into the UK came from more than 70 countries, including the world’s leading emerging markets.
Once the referendum is over I imagine the Government will return to boasting of its achievements and claiming all the glory for themselves. Funny how times change, then again it was only a few months ago that both Osborne and Cameron were saying they would be happy to leave the EU if they didn’t get major reforms of the EU….still waiting on that one.