“2018’s foreign investment stats show a worrying trend for the UK economy” says Enterprise Association
“If there was ever a need for certainty in the UK economy it’s now”, according to Enterprise Association the EISA (Enterprise Investment Scheme Association).
The comments come after yesterday’s foreign direct investment data pointed to a net reduction in earnings of almost 30 per cent for 2018, compared to the previous year.
Mark Brownridge, Director General at the EISA, said: “What is worrying is not necessarily the investment data in this release, but what the data for 2019 will tell us.
“In the year following this data, 2019, the Brexit deadline was delayed from March, to April, to October, and now has been delayed further.
“We know these delays and government campaigns in the lead up to each of the deadlines has caused uncertainty, so it’s worrying when we look ahead to the next set of data.”
The EISA believes that following next week’s General Election, all sides of Parliament need to come together to provide businesses with the relevant support to allow for investment in the UK to grow.
ENDS
Notes to editors:
According to the ONS data, “The UK’s net (outward less inward) foreign direct investment (FDI) earnings fell to £21.4 billion in 2018, compared with £30.4 billion in 2017”
You can read more about the data at https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/foreigndirectinvestmentinvolvingukcompanies/2018
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