Foreign Investment in UK

Business, Innovation and Skills written question – answered on 13th September 2013.

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Photo of Nick de Bois Nick de Bois Conservative, Enfield North

To ask the Secretary of State for Business, Innovation and Skills what estimate he has made of the return on investment to the public purse from the London UK Trade and Investment office through inward investment and exports.

Photo of Michael Fallon Michael Fallon The Minister of State, Department for Business, Innovation and Skills , Minister of State, Department of Energy and Climate Change

UKTI calculates the return on investment of its Trade and Investment related activity on a yearly basis using a range of measures including jobs created and safeguarded and additional sales and profit generated by export services. However, breakdowns of the data at either the regional or service level are not available.

The latest Annual Report and Accounts shows that UKTI spent a total of £316.8 million in 2012-13 (of which £235.6 million were spent in trade support and £81.2 million on Inward Investment). On the trade side, UKTI supported 29,230 companies in the 12 months to September 2012, with reported additional sales of £49.6 billion, creating or safeguarding over 120,000 additional jobs. For inward investment, UKTI played an active role in attracting 1,322 projects in the UK in 2012-13 creating or safeguarding almost 100,000 jobs.

For further detail on UKTI's measurement systems please see UKTI Trade and Investment Annual Report and Accounts 2012-13:

http://www.ukti.gov.uk/uktihome/item/534440.html

The latest inward investment results were published in the Inward Investment Report 2012-13:

http://www.ukti.gov.uk/uktihome/aboutukti/item/553980.html

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