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Overseas Companies

Volume 84: debated on Wednesday 23 October 1985

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asked the Secretary of State for Trade and Industry what measures he is taking to attract more overseas companies to the United Kingdom.

The Invest in Britain Bureau in the Department of Trade and Industry is currently engaged in a major promotional campaign — Britain Means Business. In collaboration with the public and private sectors the bureau is conducting this campaign in addition to its normal activities and draws attention to the undoubted attractions of the UK to foreign investors. Not least of these is the new economic climate for which this Government have been creating the right conditions. More than 88,000 jobs are likely to be created as a result of foreign-owned projects embarked upon between 1980 and 1984 and in 1984–85 my Department made offers totalling more than £128 million to foreign companies whose projects are likely to create more than 17,000 jobs and safeguard some 4,000 others.