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UK tops inward investment charts

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29/06/2006

The UK enjoyed the highest level of inward investment anywhere in the world, according to figures released by the Organisation of Economic Cooperation and Development (OECD).

Direct foreign investment totalled £91bn in 2005 and was driven up by a boom in takeovers of British companies. British firms bought by overseas operations in recent years include Abbey National, 02 and P&O.

“This is encouraging news and is exactly what Gordon Brown wanted to hear as Britain becomes a kind of global economic hub,” said City analyst Colin Perry.

“Whether or not there is an issue about UK firms losing their national identity remains to be seen, but I suppose this is one of the prices of globalisation.”

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