§ Mr. FrenchTo ask the Secretary of State for Trade and Industry what representations he has received from foreign telecommunications companies that wish to commence business in the United Kingdom.
§ Mr. RedwoodThe Government's pro-competitive telecommunications policy has already led to major overseas investment in the United Kingdom, most notably with a projected £5 billion commitment by cable television companies. Of the 24 applications for licences to run telecommunications systems since the duopoly review, 12 are from foreign companies or companies with a significant foreign shareholding. A further 30 firms, both British and foreign owned, have expressed an interest in applying for a licence. I welcome the investment and jobs that will be created by foreign companies and the wide range of innovative services they plan to offer. This further confirms that the United Kingdom is the preferred location in Europe for inward investment in telecommunications.