§ 33. Mr. SpringTo ask the President of the Board of Trade if he will make a statement on trends in foreign direct investment into the UK in the past decade. [15056]
§ Mr. Greg KnightThe stock of inward investment in the UK rose from £44.3 billion in 1985 to £144 billion in 1995—the latest year for which comparable figures are available.
This increase reflects the UK's continuing attractions as a business location, including competitive costs, a skilled and adaptable work force, low corporation tax and an established industrial infrastructure. That is why the UK is the market leader in Europe for investment from the US and Asia Pacific.
§ Mr. Harry GreenwayTo ask the President of the Board of Trade what value of inward investment has come to the United Kingdom in each of the past three years; from which principal countries; and if he will make a statement. [15276]
§ Mr. KnightThe value of flow figures for inward investment are only available on a consistent basis up to 1994. The top three sources for 1992–94 were as follows.
Year Flows £ million 1992 United States 3,748 Germany 1,261 Netherlands 1,135 Total into United Kingdom 8,850 1993 United States 5,144 Netherlands 1,245 Australia 996 Total into United Kingdom 9,863 1994 United States 1,873 Netherlands 1,691 France 665 Total into United Kingdom 6,110 Source:
International Direct Investment Statistics Yearbook, 1996, OECD.