Oral Answers to Questions

Debate between Graham Stuart and Alex Chalk

Thursday 15th November 2018 Commons Chamber

[Alex Chalk (Cheltenham) (Con)]

2. What recent assessment he has made of trends in the level of foreign direct investment.

[The Parliamentary Under-Secretary of State for International Trade (Graham Stuart)]

The UK, I am pleased to say, remains the No. 1 destination in Europe for foreign direct investment. We have recently published analyses of the positive economic impact of FDI, which show the benefits of investment to the UK and how the Department is delivering national wealth by attracting investors to our key industries.

[Alex Chalk]

Foreign direct investment in the UK has been directly responsible for more than half a million jobs since 2010, including hundreds in my constituency. Whatever the shape of future trade policy, will the Minister assure me that, building on that figure, increasing our attractiveness to foreign direct investment remains a priority for this Government?

[Graham Stuart]

My hon. Friend is absolutely right—it is a priority of this Government to create even more high-paying jobs by making the UK the most business-friendly market in the world. The Labour party’s promise to seize the assets of foreign pension funds invested in the UK threatens our prosperity and the retirement of those around the world who have put their confidence in Britain.