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Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 1:49 pm on 19th March 1997.

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Photo of Mr Ian Lang Mr Ian Lang , Galloway and Upper Nithsdale 1:49 pm, 19th March 1997

My hon. Friend is right, and it is remarkable that this country is the second largest in the world—after the United States—in terms of both outward and inward investment. Our outward investment stock is valued at more than £200 billion, and generated earnings of £24 billion to this country in 1995. We have an exceptional inward investment record, and a large number of companies from around the world are locating in this country because we deliver quality goods at competitive prices. In doing so, we have generated a substantial extension in employment.