§ Mr. Teddy Taylorasked the Secretary of State for Industry (1) if he will initiate an inquiry into the reasons why the percentage investment from Japan to the European Economic Community which came to the United Kingdom has fallen since 1 January 1973;
(2) what was the percentage of Japanese direct investment in the European Economic Community which took place in the United Kingdom in 1981; and when the percentage of European Economic Community direct investment by Japan in the United Kingdom was last at its current percentage level.
§ Mr. MacGregor[pursuant to his reply, 2 December 1982, c. 244.]: The total number of manufacturing projects undertaken by Japanese companies anywhere in Europe in any one year is small, and any change in the number of these projects can cause large changes in the percentage received by the United Kingdom, as the following table shows. Overall, Britain has done better than any other EC member State in attracting Japanese investment of all kinds. In 1981 the United Kingdom received 12 per cent. of Japanese direct investment in the European Community. The invest in Britain bureau and inward investment staff in our diplomatic service posts in Japan are always in close touch with a number of Japanese companies about locating their manufacturing projects in the United Kingdom.
Japanese direct investment overseas* United States $ million United Kingdom EC† World United Kingdom as per cent of: EC World 1973 352 438 1,904 80.4 18.5 1974 382 483 2,012 79.1 19.0 1975 42 140 1,763 30.0 2.4 1976 29 203 1,991 14.3 1.5 1977 42 200 1,645 21.0 2.6 1978 25 149 2,371 16.8 1.1 1979 38 271 2,898 14.0 1.3 1980 111 262 2,385 42.4 4.7 1981 68 568 4,894 12.0 1.4 Total 1975–81 355 1,793 17,947 19.8 2.0 1973–81 1,089 2,714 21,863 40.1 5.0 * Direct investment covers only purchases net of disposals of share capital and long term loans by Japanese concerns in their overseas subsidiaries, associates and branches. The figures do not include unremitted profits, short-term loans or trade credit.
† United Kingdom and eight Continental members up to 1980. Greece included from 1981 onwards.
Source: Japan Balance of Payments Monthly.
§ Mr. Teddy Taylorasked the Secretary of State for Industry what is the latest total of people employed by Japanese controlled manufacturing enterprises in the United Kingdom; and what percentage of the United Kingdom employment in manufacturing industry this total represents.
§ Mr. MacGregor[pursuant to his reply, 2 December 1982, c. 244]: The latest published figures available are 450W for 1979, when Japanese controlled manufacturing enterprises in the United Kingdom employed 1,700 people, 0.025 per cent. of all private and public sector employees in United Kingdom manufacturing industry. Currently, Japanese controlled manufacturing companies employ about 3,300 people; in addition about 1,600 people are employed in manufacturing enterprises in which Japanese companies have a 50 per cent. or substantial minority interest.