Science: Research

Treasury written question – answered on 19th November 2013.

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Photo of Adam Afriyie Adam Afriyie Chair, Members' Expenses Committee, Chair, Parliamentary Office of Science and Technology

To ask the Chancellor of the Exchequer what discussions his Department has had with UK Trade and Investment (UKTI) on how best to measure the (a) amount of foreign direct investment and (b) number of jobs generated by (i) UKTI and (ii) the Life Sciences Investment Organisation.

Photo of Nicky Morgan Nicky Morgan The Economic Secretary to the Treasury

Treasury officials have regular discussions with UKTI on its performance, and on a wide variety of topics, as part of the process and policy development.

The measurement of foreign direct investment is undertaken by the Office for National Statistics using an established method based on international standards. UKTI collects its own information on the inward investment projects that it is involved with, which includes information on jobs. This is explained on page 81 of UKTI's annual report and accounts 2012-13.

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