Asked by: Lord Mendelsohn (Labour - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government what targets they have for increasing levels of foreign direct investment in the UK.
Answered by Baroness Gustafsson - Minister of State (Department for Business and Trade)
Increasing levels of foreign direct investment (FDI) into the UK is a priority for this government, given its critical role attracting capital into key growth sectors, creating jobs, and stimulating wider economic growth. The Department for Business and Trade works with all investor-facing business units to deliver support for the highest-value, highest-impact FDI projects into the UK.
Internally, the Department uses a wide suite of metrics, reflecting government priorities and investment impact, to ensure the delivery of our services is aligned to desired outcomes and ambitions.
Asked by: Lord Mendelsohn (Labour - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government what plans they have for scaling up and strengthening the role of the Office for Investment.
Answered by Baroness Gustafsson - Minister of State (Department for Business and Trade)
At the International Investment Summit, the Prime Minister announced that the Office for Investment would be scaled up to help secure the investment that drive will growth, job creation, and increase productivity across the UK. This brings together DBT and HMT's investment functions into a joint single unit with clear No.10 sponsorship, tasked with promoting the UK to investors and businesses around the world and attracting more investment into the UK. It will be proactive and entrepreneurial, delivering ambitious projects, and the centre of excellence for attracting and growing investments aligned to the Industrial Strategy and HMG Missions.