§ Sir Teddy TaylorTo ask the Secretary of State for Trade and Industry if he will make a statement on the trend in the level of foreign direct investment into the UK since January 1999. [129445]
§ Mr. CabornOn 5 July, Invest UK (formerly the Invest in Britain Bureau), announced at its Annual Review another record year for attracting inward investment projects into the UK. Between 1 April 1999 and 31 March 2000, Invest UK recorded 757 inward investment decisions to locate in the UK by foreign-owned companies, with some 52,783 associated new jobs over the next three years.
Figures published by the Office for National Statistics (ONS) on 29 June showed that at the end of the first quarter 2000 Foreign Direct Investment (FDI) stock in the UK had risen to £252.4 billion—up 23 per cent. compared with a year earlier.