Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Foreign investment in Brexit-bound Britain slows again

Foreign investment in Brexit-bound Britain slows again
FILE PHOTO: The Canary Wharf financial district is seen above a residential rooftop in London, Britain, May 7, 2019. REUTERS/Hannah McKay -
Copyright
Hannah Mckay(Reuters)
Euronews logo
Text size Aa Aa

LONDON (Reuters) – The number of new foreign investment projects in Britain has fallen for the second year in a row, according to government figures published on Wednesday that added to other signs of nervousness about Brexit among investors.

The number of new investments fell by 12 percent to 1,035 in the 2018/19 financial year and expansions of existing projects fell by 22 percent to 554, according to the data from the Department for International Trade.

That reduced the number of new jobs created by foreign investment during the year to 57,625, down 24 percent from 2017/18.

Last week, a survey by consultants EY showed long-term investor sentiment about Britain was at an all-time low as the country’s Brexit crisis dragged on.

Britain’s trade minister Liam Fox said the country remained the number-one destination for foreign direct investment (FDI) in Europe, accumulating more FDI stock than Germany and France combined.

The United States was the biggest source of FDI in Britain, followed by Germany and India in terms of the number of investments made.

Wednesday’s data showed the number of mergers and acquisitions in Britain rose 8 percent to 193 in the 2018/19 financial year which ended in March.

(Writing by William Schomberg; editing by Stephen Addison)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.