§ Dr. SpinkTo ask the President of the Board of Trade what assessment he has made of current levels of inward investment. [26837]
575W
§ Mr. EggarBalance of payments data show that between 1986 and 1993, the last year for which figures are available, inward direct investment into the United Kingdom rose from £52 billion to nearly £131 billion. We now have about a third of the stock of direct inward investment in the EU. Our share of the stock of US investment in the EU was nearly 43 per cent. in 1993 and our share of the cumulative flows of Japanese investment into the EU was nearly 41 per cent.
The UK is now the preferred location in Europe for inward investment and I am determined that it should remain so.
§ Mr. Nicholas WintertonTo ask the President of the Board of Trade if he will make a statement on inward investment and on the consultation which he undertakes with industry prior to taking decisions to award investment grants. [26884]
§ Mr. EggarThe Government continue to attach great importance to the attraction of inward investment. Investment grants are available for projects in the assisted areas under the regional selective assistance scheme. No decision is taken to offer RSA grant without fully considering the potential impact of the project on existing businesses in the sector concerned.