Oral Answers to Questions — Scotland – in the House of Commons at 2:30 pm on 27th March 2007.
What recent estimate he has made of the level of inward investment in the Scottish economy; and if he will make a statement.
There are no official estimates of the level of inward investment in Scotland, but the most recent data produced by the Organisation for Economic Co-operation and Development showed that the UK was the world's largest recipient of inward foreign direct investment in 2005, while Ernst and Young's inward investment monitor showed that Scotland attracted more of that inward investment than any other part of the UK, apart from the south-east of England.
Does my right hon. Friend agree that the level of inward investment to which he referred is due to the United Kingdom's strong and stable economy? Does he further agree that on
I certainly agree that inward investment has a key role to play, and the competitiveness of the British economy and the Scottish economy is essential in attracting that inward investment. That is why I welcome the World Economic Forum's global competitiveness report of 2006, which ranked the UK 10th in its table of international business competitiveness. It is 11 places above Ireland, and it is above Norway, Iceland, Canada and France.