Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps he is taking to increase foreign direct investment in the (a) UK and (b) North East.

Growth is the government’s central economic mission and we are currently developing an Industrial Strategy which aims to drive growth across the UK through investment in key sectors and regions. We are also hosting the International Investment Summit in October, to bring together global investors and regional leaders to advance opportunities for investment and growth across the country. Additional measures to improve the business environment and increase investment into the UK will be announced at the summit.

For the North East specifically, we will support delivery of the North East Mayoral Combined Authority’s Local Growth Plan. We will continue showcasing investment opportunities across the North East to potential investors, and provide account management services for investors already in the region to help them build and scale.