Government not doing enough to support foreign inward investment outside London, says PAC

The Government is not yet doing enough to encourage investment into areas of the UK outside of London and the South East, where the most impact can be had on local economic growth.

In a report today the Commons Public Accounts Committee says that, while the Department for Business & Trade (DBT) aims for high-value foreign investment into the UK to support levelling up and growth, the number of new jobs created through investment projects supported by Government varies depending where you are in the UK.

In 2021/22, 39% of projects supported by DBT were in London and the South East (excluding projects with multiple UK sites). 16,000 of the jobs forecast to be created were in London – more than across Scotland, Yorkshire and the Humber and NE & NW England combined. The Committee recommends that focused targets be developed to support investment across the UK.

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