HC Deb 09 July 1996 vol 281 cc121-2W
Mrs. Lait

To ask the President of the Board of Trade if he will make a statement on the United Kingdom's performance in attracting internationally mobile investment projects in 1995–96. [36687]

Mr. Lang

My Department's Invest In Britain Bureau announced in its annual review of operations, published today, that 1995–96 was yet another record year for inward investment and jobs coming to the United Kingdom.

Between 1 April 1995 and 31 March 1996, the IBB recorded 477 direct investment projects by overseas-owned companies in the UK. Based on information supplied by companies at the time of their announcements, it is estimated that these projects will create 48,256 new jobs. Compared with last year's figures, this represents an increase of 10 per cent. in terms of projects and 30 per cent. in terms of jobs.

These results demonstrate how attractive the United Kingdom's competitive business environment is to overseas investors—helping to make Britain the enterprise centre of Europe.

The results also provide evidence of the successful partnership the Invest In Britain Bureau has with many public and private sector organisations involved in the promotion of inward investment both at home and abroad.

I am arranging for a copy of the review to be placed in the Library of the House.