PRESS RELEASE : Foreign Firms Flocking to Britain (2000)

The press release issued by the Conservative Party on 30 November 2000.

Foreign Firms Flocking to Britain

New report shows Britain is no.1 for overseas investment – proving we can thrive outside the euro.

The latest research from leading business information group Dun and Bradstreet concludes that 28,777 foreign-owned companies are doing business in Britain compared to 23,300 in 1998. The report knocks Tony Blair’s warnings that we risk our economy unless we ditch the £.

The number of French firms doing business in Britain rocketed by a third and Dutch business rose by a quarter.

Investment in Britain from Holland, France and Germany has shot up since they joined the euro 18 months ago as high taxes and red tape cripple businesses. American firms make up the biggest slice of foreign input, followed by Holland, France, Germany, Japan, Switzerland, Ireland, Sweden, Australia and Canada.

This report comes only 2 days after Honda decided to double car production at Swindon. Last year outside companies ploughed £252.2 billion into Britain – up from £204 billion in 1998.

This trend is echoed by finance experts who predict that Denmark’s economy will be boosted by a No vote in next month’s euro referendum.