Question
To ask His Majesty's Government what assessment they made of the recommendations of the Harrington Review of Foreign Direct Investment.
Answer
Investment is vital for improving growth, and will be central to our ambition to increase the number of good, well-paid jobs and improving productivity across the country.
The government have announced a series of measures to address the issues raised in Lord Harrington’s Review of Foreign Direct Investment. The Prime Minister has appointed a new joint Investment Minister in both HM Treasury and the Department for Business and Trade, and announced the creation of a new, expanded Office for Investment (OfI). The expanded OfI will work to unblock barriers to investment where these arise and proactively drive investment activity cross-government.
This will provide seamless support to our most important international and domestic investors and help turn the Industrial Strategy and regional growth plans into a clear and commercially credible pipeline of investment opportunities.
On 14 October we also hosted our inaugural International Investment Summit, where we were able to announce £63bn of new investment, helping to create around 38,000 jobs.