Job growth surge thanks to foreign investment, claims Cable
Strong investment from the USA and France has been the catalyst for the creation and securing of jobs in 2011/12.
That’s according to Business Secretary Vince Cable, cited by freshbusinessthinking.com, who believes that companies investing in the UK are reaping the rewards as well as laying the foundations for growth across the country.
Foreign direct investment is at its highest in the UK than any other European country, generating more than a thousand new jobs each week.
According to figures cited by the minister, inward investment created 52,741 jobs in London, Birmingham, Manchester and all over the country, marking a 26 per cent on 2010/11. Furthermore, it also managed to secure 59,918 jobs, an increase of 14 per cent.
Cable hailed the confidence of the UK to ukti.gov.uk: “Openness to investment is crucial for sustainable economic growth, and the Government has worked hard to ensure the UK remains attractive to companies around the globe. A reduced and simplified tax burden and a clear headed approach to rebalancing the economy have helped maintain our position as the top destination in Europe in which to do business.
“The bottom line is that firms of all sizes believe that if they come to the UK, they will grow and succeed,” he added.