Inward investment figures show confidence in UK plc

In the year ending April 2016, a record-number of investments were made by foreign firms in the UK — according to Government figures.

The Department for International Trade recorded 2,213 inward investment projects, up 11% on the previous year, showing the UK as the most popular destination in the European Union for overseas firms.

The second quarter’s figures might be less positive as they will include the final weeks before the referendum, but the third and fourth quarter figures will be the real tell.
— Scott Knowles, Chief Executive of East Midlands Chamber

Scott Knowles, Chief Executive of Bondholder East Midlands Chamber, said: "These figures for the first three months of this year are extremely positive, show confidence in UK plc and were achieved despite the imminence of the EU Referendum."

He continued: "The second quarter’s figures might be less positive as they will include the final weeks before the referendum, but the third and fourth quarter figures will be the real tell as they will include the three months immediately after the referendum and then the three months beyond that when the dust began to settle following the Brexit vote."

Scott concluded: "The UK being a great place in which to invest isn’t governed solely by membership of the EU. But to maintain the attraction, the Government needs to ensure it has policies in place post-Brexit, such as low corporation tax, sensible business rates, low employment costs and workable and mutually beneficial trade agreements with the EU and the rest of the world."