Union Jack flags on Oxford Street

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A document variety of investments have been made by international corporations within the UK within the yr to April 2016, in accordance with authorities figures.

The Division for Worldwide Commerce recorded 2,213 inward funding initiatives, up 11% on the earlier yr.

The info reveals the UK is the preferred vacation spot within the European Union for abroad corporations.

Nonetheless, there’s concern over how the UK’s vote to go away the EU could have an effect on future funding choices.

Commenting on the figures Worldwide Commerce Secretary Liam Fox mentioned: “These spectacular outcomes present the UK continues to be the place to do enterprise.

“We have broadened our attain with rising markets internationally to cement our place because the primary vacation spot in Europe for funding.”

The report urged that 116,000 jobs have been created or safeguarded by abroad funding final yr.

The US stays the largest supply of inward funding, accounting for 570 initiatives, adopted by China with 156 and India with 140.

Simon French, chief economist for Panmure Gordon mentioned enticing tax charges, using English, a dependable authorized system, and Britain’s membership of the European Union have been components which have made the UK a lovely location for international buyers.

“What will probably be way more vital than Brexit will probably be whether or not the political forces that formed the vote to go away additionally put strain on the UK to be a extra closed/protectionist nation. This may have a lot bigger (unfavorable) ramifications for future inward funding flows,” he mentioned.

The present monetary yr has already seen one excessive profile international deal, with the acquisition of UK pc chip designer ARM Holdings by Japan’s Softbank for £24bn.