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BOOMING BRITAIN: Brexit helps attract extra £16BILLION in foreign investment figures show

BRITAIN’S push for Brexit has helped attract an extra £16.3billion in foreign investment in UK businesses, new figures revealed last night.

Booming Britain Brexit graphicGETTY

Britain is booming thanks to Brexit, inviting billions of pounds in foreign investment


Data from Whitehall showed that the newly-formed Department for International Trade has assisted in securing a string of deals to boost jobs and economic growth since the historic vote to leave the .

Small firms and industries outside London in key sectors of the economy including property development, infrastructure and energy have been the big winners, the statistics confirmed.

Officials insist the surge proves that Britain is “an attractive place to invest and do business” as prepares to formally apply for the country to cut ties with Brussels next year.

News of the extra investment came after the FTSE 100 Index recorded a new all-time closing high of 7,120.26 yesterday.

Recent major investments show how much the UK is valued as an innovative business-friendly country

Liam Fox, International Trade Secretary

And a survey of the UK’s largest businesses by Deloitte earlier this week found that confidence had reached the highest level in 18 months.

International Trade Secretary Liam Fox said: “Recent major investments show how much the UK is valued as an innovative business-friendly country, and will continue to be as we leave the EU.

“But the benefits of foreign investment have much more impact for local communities across the UK, transforming local industry, creating jobs and tackling issues like housing and clean energy.

Canary WharfGETTY

Recent investments show Britain is valued in the world of business


“Britain remains truly open for business, that’s why my department is supporting businesses in the UK and across the world to attract investment to boost our economy.

“Long-term business investments like these are a clear vote of confidence in the UK and our strong economy post-.”

Mrs May ordered the setting up of the Department for International Trade under Dr Fox soon after becoming Prime Minister last July.

The move was designed to ensure that the country could seek new trading opportunities across the globe as the country leaves the EU.

Busy London streetGETTY

Long-term business investments are a vote of confidence in the nation


In its first progress update, the department confirmed that its ministers and officials have helped broker investment deals worth more than £16.3billion.

One of the most recent deals involved the Australian energy firm Peak Resources investing £100million in a new minerals refinery in the Tees Valley.

The project aims to produce critical raw materials needed for electric and hybrid-drive motor vehicles.

Another deal expected to secure hundreds of jobs will see companies from Denmark, Germany and South Korea investing in the UK’s first offshore wind towers at Campbeltown in Scotland.

Liam FoxGETTY

Trade Secretary Liam Fox underlined the importance of foreign investment for local communities


Denmark-based firm DONG Energy is to build a £60million plant at Northwich, Cheshire, and plans to invest £12billion in renewable energy projects in the UK by 2020.

And Chinese construction firm CNBM is to plough £2.5billion into building 25,000 high-tech homes in the UK.

Six new factories in , Wales and England with more than 1,000 employees in total are to be set up by the firm to manufacturer parts for the pre-made “modular” homes.

Other deals include a digital sports media company bringing 100 new jobs to Leeds and a joint project worth £300million to regenerate the former Ferrybridge Power Station plant in West Yorkshire.

Busy London streetGETTY

6 new factories across the UK are set to give jobs to 1,000 employees


Officials also pointed out that the Department for International Trade is helping British entrepreneurs boost their foreign exports, with smaller-sized firms benefitting the most.

Figures showed the majority of businesses assisted by the department have fewer than 250 employees.

Meanwhile, Britain’s former European commissioner has urged yesterday urged the Prime Minister to trigger Article 50 of the EU’s Lisbon Treaty, the legal mechanism for leaving the bloc, as early as possible next year. She had promised to activate the clause by the end of March.

Lord Hill of Oareford – who quit his post in Brussels following the vote to Leave having backed Remain in the referendum campaign – said business needed certainty about the future.

Stock brokers officeGETTY

The Department for Foreign Trade is helping British entrepreneurs


“My own view is that, having been a Remainer, the result is a binding result on people like me and you need to move forward rapidly in coming up with working out what the future has got to look like,” he told Radio 4’s The World at One.

“The business dynamic and the political dynamic in the UK is to get on with things. Business needs certainty. Clearly it is a task for the Prime Minister and the Government to lead, but actually I think the whole country needs to come together.

“The political debate in the UK feels to me as though it’s frozen round about midnight on June 23. Business I think has come to terms more quickly with the fact that things have changed because they are pragmatic, they need to know what they are going to do.”

Lord Hill, a Tory former cabinet minister, warned the negotiations would be “difficult” with the current state of relations between the UK and the remaining 27 member states resembling a “dialogue of the deaf”.

Busy London streetGETTY

Theresa May has promised to take Britain out of the EU by the end of March


“It is not going to be the case that once we have made our mind up on what we think we want we are just going to be able to plonk it on the table, say ‘Here you are thanks very much. Now let’s get on with it,”‘ he said.

“We need to get the overall dialogue with our European friends into a better place than it currently is. At the moment I think we have got a bit of the dialogue of the deaf.

“Having two sides shouting at each other from the side lines is not a very smart place to be starting. I think that is pretty much where we are.”

Shoppers on a London streetGETTY

Britain is seeking out trade opportunities as it makes its way out of the EU


While he said that he met very few in Europe who said, “Let’s smash you out in as ghastly a way a possible,” there was a still risk that could it could end in a “difficult and painful” break-up.

“There is a relatively small hard-line extreme group in Europe which is actually perfectly happy feeding off some of the hard-line comments coming out of the UK,” he said.

“I think the way that politics is operating in a number of countries, including our own, is tending towards a ratcheting up of rhetoric.”

hthttp://www.express.co.uk/news/politics/748291/Brexit-foreign-investment-16-billion-booming-Britaintp://www.express.co.uk/news/politics/748291/Brexit-foreign-investment-16-billion-booming-Britain

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