Commons Sense

House of Commons · Ministers' Questions

Inward Investment

Thursday 14 January 2021 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 2 Partly answered 0 Not answered 0

Key points

  • UK's inward foreign direct investment stock was 1.6 trillion at the end of 2019, making the UK the top recipient in Europe.
  • My Department runs a key account management programme to support investors in priority levelling-up areas.
  • D2N2 LEP is receiving funding to identify foreign owned companies in Bassetlaw and assist with their growth plans.

Topics (select to filter)

Questions & Answers

Q1 Brendan Clarke-Smith
Business & Trade
Context

The question is prompted by the need to assess the level of inward investment in comparison between the UK and other European countries. This is significant for economic competitiveness and policy direction.

Question

What comparative assessment she has made of the level of inward investment into (a) the UK and (b) other European countries?

Answer from Graham Stuart

According to the latest Office for National Statistics figures, the UK's inward foreign direct investment stock stood at £1.6 trillion at the end of 2019, maintaining its No. 1 status in Europe according to the United Nations Conference on Trade and Development.

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Q2 Brendan Clarke-Smith
Economy Business & Trade
Context

The question is prompted by the need to ensure that inward investment supports economic growth and job retention in specific regions like Bassetlaw, an area focused on levelling-up efforts.

Question

What steps is the Minister taking to ensure that inward investment supports the levelling up of areas such as Bassetlaw?

Answer from Graham Stuart

My Department operates a key account management programme to support existing investors in priority levelling-up areas. D2N2 LEP is receiving funding under this programme to identify foreign owned companies across the area, including Bassetlaw, which can be assisted with growth plans. Seven new officers have been placed overseas since March specifically tasked with promoting investment opportunities in the Midlands, including Bassetlaw.

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