Investment

Department for Business, Innovation and Skills written question – answered on 23rd June 2015.

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Photo of Nicholas Soames Nicholas Soames Conservative, Mid Sussex

To ask the Secretary of State for Business, Innovation and Skills, with reference to recommendation 73 of Lord Heseltine's No Stone Unturned report, published in October 2012, and to paragraph 1.48 of the Government's response to the Heseltine review, published in March 2013, how the Government distinguishes between investment which benefits the UK economy and investment which does not; and if he will make a statement.

Photo of Nicholas Boles Nicholas Boles The Minister for Universities and Science, Minister of State (Department for Business, Innovation and Skills) (Jointly with the Department for Education)

I refer my Rt hon. Friend to the answer I gave to him on 22 June 2015 to Question UIN 2838.

I can also confirm that UK Trade and Investment (UKTI) aims to identify and promote higher value and better quality inward investment projects to generate maximum benefits for the UK. UKTI uses an internal, multi-indicator framework to determine the relative value of all foreign direct investment projects UKTI teams support. These indicators include: total financial value of investment, total number and average salary of new jobs created, Research and Development element involved in investment, HQ function and the role of the UK site, type and quality of the investor and export potential of the investment.

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