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1064085

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent steps he has taken to increase the level of Foreign Direct Investment into the UK.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	223496
	answer	answer is ministerial correction date of answer 26/02/2019 answer text <p>Since 2010 we have significantly lowered the headline rate of Corporation Tax from 28% down to 19% today – the lowest in the G20, with further cuts to 17% legislated by 2020.</p><p> </p><p>We have also created a world-leading offer on creative sector tax reliefs, given significant support for R&amp;D investment through the tax system, and introduced the Patent Box regime to attract international investment in intellectual property to the UK.</p><p> </p><p>These steps have helped to create a highly competitive and FDI-friendly business environment.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 26/02/2019 15:18:46 answering member 4320 label Biography information for Robert Jenrick
	tabling member	1586 label Biography information for Adam Afriyie

155745

	registered interest
	date	17/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he has taken to encourage more foreign direct investment in UK companies.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	214745
	answer	answer is ministerial correction date of answer 24/11/2014 answer text <p><strong>In 2013-14 the UK attracted 1,773 foreign direct investment projects, giving a total stock of £1.6 trillion of such investments - more than any other country apart from the USA. During this Parliament the Government has taken action to make the UK a more attractive location to run a business including reducing corporation tax so that it will reach 20% next year – the lowest in the G20 - and investing in skills, science and infrastructure. The Government has also increased resources at UK Trade and Investment including for example establishing private sector-led teams in the Gulf, Central Europe, and South America dedicated to attracting inward investment into the UK. </strong></p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 24/11/2014 17:43:50 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1586 label Biography information for Adam Afriyie

79007

	registered interest
	date	21/07/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the amount of foreign direct investment generated since 2010 as a direct result of the lower rate of corporation tax.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	206722
	answer	answer is ministerial correction date of answer 01/09/2014 answer text <p>Since 2010, the Government has cut the main rate of corporation tax from 28% to 21%. It will fall further next year, to 20%, giving the UK the joint lowest rate of corporation tax in the G20. The Small Profits Rate has also been cut to 20%.</p><p> </p><p>These cuts are a central part of the Government’s long-term economic plan. They are intended to make the UK more competitive, supporting business investment and job creation.</p><p> </p><p>Government modeling suggests that the corporation tax cuts introduced in this parliament will:</p><p>· increase business investment by between 2.5% and 4.5% (£3.6bn to £6bn in today’s prices) in the long term</p><p>· increase GDP by between 0.6% and 0.8% (£9.6bn to £12.2bn in today’s prices) in the long term</p><p> </p><p>Foreign direct investment decisions are influenced by a range of factors including skills, market access, and infrastructure. Consequently, it is difficult to isolate the exact impact of the corporation tax cuts from reform in other areas. But recently published data on inward investment has been very encouraging.</p><p> </p><p>In their 2013/2014 Inward Investment Report, UKTI said ONS data showed the value of FDI stock increased from £725.6bn in 2010, to £936.5bn in 2012.</p><p> </p><p>UKTI also reported that the UK attracted more inward investment projects last year than in any year since records began in the 1980s. UKTI recorded 1773 projects, creating 66,390 new jobs.</p><p> </p><p>This is supported by analysis from Ernst and Young, who use their own independent database to assess inward investment. Ernst and Young’s Annual Attractiveness Survey, published in June, showed the number of inward investment projects in the UK had risen by 15% in the past year, against the background of a European market that grew by just 4%.</p><p> </p><p> </p><p>As noted above, it is difficult to isolate the impact of tax policy on these trends, and UKTI does not have estimates of how much of the new investment has been a direct result of the lower rate of corporation tax. But it is clear that the corporation tax reforms have changed perceptions of the UK competitiveness. For the past two years, the UK has ranked highest in the KPMG survey on international tax competitiveness, ahead of countries including the US, the Netherlands and Switzerland.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 01/09/2014 16:21:34 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

802199

	registered interest
	date	06/12/2017
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for International Trade, how his Department is working with the Department for Business, Energy and Industrial Strategy to attract foreign direct investment into the Industrial Strategy.
	tabling member constituency	Brigg and Goole
	tabling member printed	Andrew Percy
	uin	117886
	answer	answer is ministerial correction date of answer 14/12/2017 answer text <p>The Department for International Trade (DIT) leads on Foreign Direct Investment (FDI) policy.</p><p>DIT has been working closely with colleagues in the BEIS Industrial Strategy team, to ensure the closest possible alignment of activity to support the Strategy’s initiatives around growing clusters and sectors, and the promotion of FDI through DIT’s FDI strategy.</p><p>This will deliver a more targeted approach to promotion and investor support, and better address market failures to maximise wealth creation across the UK. From April 2018, we will change our measure of performance from the volume of projects landed to a comprehensive measure of economic impact.</p><p>Alongside this DIT will work with local partners to identify High Potential Opportunities that are currently overlooked, misunderstood, or underestimated, and therefore not achieving their full potential. Targeted promotion and support around these opportunities will help to address the market failures that leave these places at a disadvantage, by presenting investors with a more complete picture of supply.</p> answering member constituency Wyre Forest answering member printed Mark Garnier question first answered 14/12/2017 13:10:24 answering member 4074 label Biography information for Mark Garnier
	tabling member	3939 label Biography information for Andrew Percy

532868

	registered interest
	date	05/07/2016
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for International Trade, what steps he is taking in response to the outcome of the EU referendum to encourage foreign investment in the UK.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	41877
	answer	answer is ministerial correction date of answer 20/09/2016 answer text <p>My Ministerial colleagues and I, as well as officials from the Department for International Trade, the Department for Exiting the EU and the Foreign and Commonwealth Office, are engaging with a wide range of businesses including current and prospective investors.</p><p>Prior to my appointment, BIS Ministers were communicating to these businesses through phone calls, letters, speeches and participation in roundtables and this work continues. We are engaging with businesses and speaking to investors, both in the UK and overseas, to reassure them that Britain is very much open for business.</p><p>We are also working with colleagues in the Cabinet Office, HM Treasury and other key departments to ensure a fully coordinated approach to this work and will continue with our marketing activities to promote Britain as a GREAT place in which to invest and with which to trade.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 20/09/2016 13:54:04 answering member 1526 label Biography information for Greg Hands
	tabling member	1447 label Biography information for Andrew Rosindell

64739

	registered interest
	date	30/06/2014
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to encourage foreign direct investment from member states of the Commonwealth.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	203187
	answer	answer is ministerial correction date of answer 09/07/2014 answer text <p>UK Trade and Investment (UKTI) has operations in 39 Commonwealth countries.</p><p>During the Commonwealth Games in Glasgow, UKTI, the Scottish Government, Scottish Enterprise and the Commonwealth Business Council are delivering a business conference for 200 Commonwealth business leaders.</p><p>The UK Government is also organising a British Business House during the Games, which will highlight to Commonwealth businesses the benefits of investing in the UK.</p><p>Regular ministerial visits and trade missions to Commonwealth countries are used to promote the UK's competitive business environment and opportunities in the UK for foreign direct investment.</p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 09/07/2014 16:06:50 answering member 88 label Biography information for Sir Michael Fallon
	tabling member	1447 label Biography information for Andrew Rosindell

573981

	registered interest
	date	02/09/2016
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for International Trade, what steps he is taking in response to the outcome of the EU referendum to boost the UK's inward investment promotion and delivery effort.
	tabling member constituency	Hammersmith
	tabling member printed	Andy Slaughter
	uin	44584
	answer	answer is ministerial correction date of answer 08/09/2016 answer text <p>DIT Ministers and I have been clear that Britain remains open for business. On 5<sup>th</sup> September 2016, the Directorate General within DIT responsible for inward investment moved to a new, more focussed operating model to deliver inward investment. This focuses on attracting high-value FDI that maximises wealth creation within the UK in the sectors, places and markets that provide the greatest opportunity.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 08/09/2016 16:40:59 answering member 1526 label Biography information for Greg Hands previous answer version 9708 answering member constituency Chelsea and Fulham answering member printed Greg Hands answering member 1526 label Biography information for Greg Hands
	tabling member	1516 label Biography information for Andy Slaughter

574229

	registered interest
	date	02/09/2016
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for International Trade, what steps he is taking to retain current inward investors in the UK after the UK leaves the EU.
	tabling member constituency	Hammersmith
	tabling member printed	Andy Slaughter
	uin	44721
	answer	answer is ministerial correction date of answer 08/09/2016 answer text <p>The UK remains the most attractive place in Europe to invest in. As well as attracting new projects, this Department already focuses substantial effort on retention of our existing investors and supporting them to grow and remain in the UK to maximise wealth creation. On 5<sup>th</sup> September 2016, the Directorate General within DIT responsible for inward investment moved to a new, more focussed operating model to deliver inward investment, which will push this agenda and provide more focussed support than ever before to retain our inward investors.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 08/09/2016 16:34:11 answering member 1526 label Biography information for Greg Hands previous answer version 9709 answering member constituency Chelsea and Fulham answering member printed Greg Hands answering member 1526 label Biography information for Greg Hands
	tabling member	1516 label Biography information for Andy Slaughter

713692

	registered interest
	date	23/03/2017
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Foreign Investment in UK
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, in the light of the UK's exit from the EU, whether they are planning to introduce primary legislation dealing with foreign investment in UK companies.
	tabling member printed	Baroness Hayter of Kentish Town
	uin	HL6289
	answer	answer is ministerial correction date of answer 06/04/2017 answer text <p>Until the UK leaves the EU, we will remain subject to EU trade and investment agreements and policy. We will in due course consider all options in the design of future bilateral trade and investment agreements.</p> answering member printed Lord Price question first answered 06/04/2017 13:01:06 answering member 4570 label Biography information for Lord Price
	tabling member	4159 label Biography information for Baroness Hayter of Kentish Town

644048

	registered interest
	date	24/11/2016
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for International Trade, pursuant to the Answer of 8 September 2016 to Question 906161, how many of the priority global high-value export campaigns and campaigns for foreign direct investment are planned to begin before 31 March 2017; and if he will make it his policy to publish regular summaries of the effect of those campaigns.
	tabling member constituency	Brent North
	tabling member printed	Barry Gardiner
	uin	54842
	answer	answer is ministerial correction date of answer 02/12/2016 answer text <p>The Department has 191 priority high-value export campaigns for exports, and 250 campaigns for Foreign Direct Investment. At present there are no plans to introduce further campaigns before 31 March 2017. Although the Department will continue to remain responsive to new opportunities to trade around the world as they emerge. The impact of these campaigns will be summarised within the Department’s Annual Report.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 02/12/2016 14:45:41 answering member 1526 label Biography information for Greg Hands
	tabling member	146 label Biography information for Barry Gardiner