Monday, 13 January 2020

Fall in foreign industrial investment in UK

So far, I have found only the French version of EY's assessment of the appeal to foreign investors of the leading industrial nations of Europe (including Turkey).

La France reste étonnamment attractive et conserve la 1ère place européenne pour les sites de production d’entreprises à capitaux étrangers.

EY - La France confirme sa position de n°1 européen
  • En 2018, la France a vu se réaliser 339 projets de création et d’extension d’unités de production.
  • La perspective du Brexit fait chuter le Royaume-Uni de ce podium européen (-35%, 140 projets).
  • 70% des dirigeants d’entreprises étrangères sont confiants quant aux perspectives de l’industrie en France.
  • Néanmoins, les industriels restent « prudents » dans leurs investissements, avec une majorité d’extensions et des projets qui ne créent qu’une trentaine d’emplois en moyenne.
EY - La France confirme sa position de n°1 européen

My rusty French (I scraped an A level over a generation ago) suggests that this means UK was not at the top of this league in 2018 or even 2017 as various Leave supporters implied that we were. Indeed, we were not even in bronze medal position in 2018, because of a precipitate fall of 35% in the number of new investment projects, thanks to Brexit. I can only assume Guido Fawkes, Boris Johnson, Saved Javid et al. ranked financial speculators as investors to justify their claims.

Ernst & Young Global Limited (to give EY its full title) is based in London. One wonders whether the press office here will produce an English-language version.

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