Barry Gardiner MP, Shadow Secretary of State for International Trade, Europe, Energy and Climate Change, responding to figures due to be published today showing record foreign direct investment in the United Kingdom in the year to April 2016, said:
“Today’s figures should be welcomed. They show that Britain attracted strong investment creating jobs and growth in our economy through to April of this year. Of course that investment reflected the confidence that investors had prior to the referendum result and may reflect the prevailing confidence then that there would be a vote to remain.
“It is worth noting that it was investment from other EU member states that comprised a large element of the capital inflow.
“We in the Labour Party will do everything we can to talk up the UK economy to ensure that the post-referendum figures are just as good as these. But the Government must be careful; they have sent very mixed messages out to potential partners by the decision to review Hinkley and the Prime Minister should use this week’s meeting of the G20 in Beijing to reassure Premiere Xi that the UK wants strong Chinese investment in our future infrastructure projects. Business need regulatory certainty. They want strong decisions upon which they can calculate with confidence their return on investment.
“Theresa May needs to signal to the world that the UK is not plagued by indecision. Past form chopping and changing support to major energy projects like carbon capture and storage has unsettled investors. The new Government must quickly address the doubts investors still harbour over this Whitehall disease.”