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26/07/2012
Jobs Boost As UK Attracts Increased Overseas Investment
Strong inward investment into the UK economy created or secured more than 112,000 jobs in 2011/12, a rise of 19 per cent on the preceding year, new figures showed today.
The figures announced by Business Secretary Vince Cable indicate that companies investing in the UK are continuing to succeed, laying the foundations for growth across the country. Inward investment created 52,741 new jobs, a 26% increase on 2010/11, and secured 59,918 existing jobs, an increase of 14%.
The UK continues to attract more foreign direct investment (FDI) than any other European country, generating more than a thousand new jobs each week.
Jobs have increased across a range of sectors, including advanced engineering, life sciences, environmental technologies and the creative industries. A 22 per cent rise in manufacturing projects shows the crucial role of inward investment in helping rebalance the economy.
Mr Cable said: "These figures are a clear demonstration that international investors have confidence in the UK. Despite a difficult international economic climate, more jobs have been created and secured than in any year for over a decade.
"Openness to investment is crucial for sustainable economic growth, and the Government has worked hard to ensure UK remains attractive to companies around the globe. A reduced and simplified tax burden and a clear headed approach to rebalancing the economy have helped maintain our position as the top destination in Europe in which to do business.
"The bottom line is that firms of all sizes believe that if they come to the UK, they will grow and succeed."
(CD)
The figures announced by Business Secretary Vince Cable indicate that companies investing in the UK are continuing to succeed, laying the foundations for growth across the country. Inward investment created 52,741 new jobs, a 26% increase on 2010/11, and secured 59,918 existing jobs, an increase of 14%.
The UK continues to attract more foreign direct investment (FDI) than any other European country, generating more than a thousand new jobs each week.
Jobs have increased across a range of sectors, including advanced engineering, life sciences, environmental technologies and the creative industries. A 22 per cent rise in manufacturing projects shows the crucial role of inward investment in helping rebalance the economy.
Mr Cable said: "These figures are a clear demonstration that international investors have confidence in the UK. Despite a difficult international economic climate, more jobs have been created and secured than in any year for over a decade.
"Openness to investment is crucial for sustainable economic growth, and the Government has worked hard to ensure UK remains attractive to companies around the globe. A reduced and simplified tax burden and a clear headed approach to rebalancing the economy have helped maintain our position as the top destination in Europe in which to do business.
"The bottom line is that firms of all sizes believe that if they come to the UK, they will grow and succeed."
(CD)
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Northern Ireland WeatherThis Evening and Tonight:Apart from a little patchy drizzle it will be a dry evening and night with variable amounts of cloud. A few mist and fog patches forming. Minimum temperature 7 °C.
