The numbers that many people didn’t want to hear were finally revealed last month…
The Department for International Trade showed that investment in the UK by overseas firms has declined sharply in recent years.
The number of new projects in the UK fell by 14 per cent in 2018-19, meanwhile the number of jobs created fell by almost a quarter from 75,968 to 57,625. This figure represents the lowest level of job creation since 2012.
Despite this, the UK remains the top European destination for foreign investment, helped by the leading role US businesses play in Britain. There has also been an increase in the number of British businesses bought by overseas firms, up by eight per cent, due to the falling value of the pound making it cheaper for foreign companies to buy British.
This news comes as Tory leadership rivals lay out their spending plans, including tax-cuts and changing business rates. Both candidates are outlining their plans by including the £26.6bn ‘war chest’ that Chancellor Philip Hammond has ‘set aside’.
However this funding may only be available in the case of Brexit deal, and some economists even argue that such a contingency does not even exist. Of course, whether or not traders want to hear this news, it is speculation that we cannot avoid.
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