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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

1700474

	registered interest
	date	12/04/2024
	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, whether he has made an estimate of potential trends in the level of inward investment due to British companies re-shoring their manufacturing in the next 12 months.
	tabling member constituency	Warrington North
	tabling member printed	Charlotte Nichols
	uin	21361
	answer	answer is ministerial correction date of answer 22/04/2024 answer text <p>The UK maintains its strong position on attracting greenfield FDI, leading in Europe and third only to the US and China globally. EY’s 2023 FDI survey reported 65% of respondents planning to invest in the UK in the following 12 months, a record high.</p><p> </p><p>A specific assessment around re-shoring cannot be made. The available data concerning inward investment does not distinguish reshoring from other forms of domestic investment.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 22/04/2024 12:41:40 answering member 4850 label Biography information for Gareth Davies
	tabling member	4799 label Biography information for Charlotte Nichols

890469

	registered interest
	date	24/04/2018
	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 Mr Chancellor of the Exchequer, how much and what proportion of foreign direct investment in the UK in 2017 came from (a) acquisitions, mergers and joint-ventures, (b) new investments and (c) expansions of existing investments.
	tabling member constituency	North Swindon
	tabling member printed	Justin Tomlinson
	uin	137540
	answer	answer is ministerial correction date of answer 02/05/2018 answer text <p>Data on the proportions of foreign direct investment (FDI) by acquisitions, mergers and joint-ventures, new investments and expansions of existing investments in 2017, is not yet available. The annual release containing this information will be published in December 2018.</p><p> </p><p>The stock of foreign direct investment in the UK increased to £1.6 trillion in 2017, a further 0.7% increase in addition to the record high FDI inflows in 2016.</p> answering member constituency Salisbury answering member printed John Glen question first answered 02/05/2018 14:56:39 answering member 4051 label Biography information for John Glen
	tabling member	4105 label Biography information for Justin Tomlinson

1023303

	registered interest
	date	11/12/2018
	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 proportion of Foreign Direct Investment in the UK in 2017-18 was represented by (a) acquisitions, mergers and joint ventures and (b) new investments or expansions.
	tabling member constituency	Birmingham, Hodge Hill
	tabling member printed	Liam Byrne
	uin	201143
	answer	answer is ministerial correction date of answer 19/12/2018 answer text <p>The proportion of Foreign Direct Investment (FDI) attributable to merger and acquisition (M&amp;A) activity can vary substantially from year to year. For instance, almost all of the inward FDI flows in 2016 can be attributed to a small number of high value deals. In 2017, the ONS recorded that 23.8% of FDI flows into the UK were due to mergers and acquisitions (net of disposals). The remainder can include acquisition of equity (share ownership), reinvested earnings and inter-company loans. However, we cannot ascertain how much new investment or expansions contributed to this remainder.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/12/2018 15:50:13 answering member 4051 label Biography information for John Glen
	tabling member	1171 label Biography information for Liam Byrne

1697296

	registered interest
	date	19/03/2024
	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	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government, further to the announcement by the Chancellor of the Exchequer on 2 March concerning the requirement by 2027 for pension funds to disclose how much they invest in British businesses, what steps they are taking to assess the potential consequences on overall competitiveness and attractiveness of the UK as an investment destination.
	tabling member printed	Lord Taylor of Warwick
	uin	HL3426
	answer	answer is ministerial correction date of answer 28/03/2024 answer text <p>The Chancellor announced at Spring Budget that the government will introduce new requirements for Defined Contribution pension funds to disclose publicly their level of UK equity investments, working closely with the Financial Conduct Authority (the FCA) who share responsibility for setting requirements for the market. The FCA will consult in the Spring. The government will introduce equivalent requirements for Local Government Pension Scheme funds in England &amp; Wales. The government will review what further action should be taken if the data does not demonstrate that UK equity allocations are increasing.</p><p> </p><p>This complements the wider reforms that the Government and regulators are already undertaking to boost UK markets.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 28/03/2024 12:46:56 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1715448

	registered interest
	date	01/05/2024
	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	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what steps they are taking to (1) retain, and (2) attract, foreign financial firms and jobs in the UK.
	tabling member printed	Lord Taylor of Warwick
	uin	HL4309
	answer	answer is ministerial correction date of answer 15/05/2024 answer text <p>Financial and related professional services employ more than 2 million people in the UK and the Government is committed to ensuring the UK remains the location of choice for top talent from across the world. This is part of the Government’s mission to ensure the UK retains its position as one of the most innovative and competitive financial centres in the world. Most recently, at Spring Budget 2024, the Chancellor updated on the ambitious package of reforms which will help to deliver the Government’s vision for a financial sector that is open, sustainable, technologically innovative, and globally competitive.</p> answering member printed Baroness Vere of Norbiton question first answered 15/05/2024 16:00:12 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

514309

	registered interest
	date	20/04/2016
	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	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what plans they have to prevent any fall in the amount of foreign direct investment if the UK were to vote to leave the EU.
	tabling member printed	Lord Taylor of Warwick
	uin	HL7799
	answer	answer is ministerial correction date of answer 05/05/2016 answer text <p>The Government’s position is that the UK will be stronger, safer and better off remaining in a reformed EU.</p><p> </p><p>Recently published Government analysis - ‘HM Treasury analysis: the long-term economic impact of EU membership and the alternatives’ – described the evidence that EU membership has supported foreign direct investment into the UK.</p><p> </p><p>It concludes that foreign direct investment flows into the UK would fall by between 10% and 26% if the UK left the EU, depending on the alternative arrangement.</p> answering member printed Lord O'Neill of Gatley question first answered 05/05/2016 12:38:07 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	1796 label Biography information for Lord Taylor of Warwick

539498

	registered interest
	date	13/07/2016
	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 tax measures he is putting in place to encourage higher levels of business investment in the UK.
	tabling member constituency	Fylde
	tabling member printed	Mark Menzies
	uin	905945
	answer	answer is ministerial correction date of answer 19/07/2016 answer text <p>I refer my hon Friend to the answer given by the Chancellor today in response to the oral question from the hon Member for Lewes.</p> answering member constituency Battersea answering member printed Jane Ellison question first answered 19/07/2016 15:51:50 answering member 3918 label Biography information for Jane Ellison
	tabling member	3998 label Biography information for Mark Menzies