COMMENTS by the York Inward investment Board Chief Executive Paul Murphy about the threat to inward investment in Yorkshire (Evening Press, July 12) show an over-pessimistic view of the future for inward investment in the region.
According to the latest Investment in Britain Bureau figures, the stock of UK inward investment rose by 23 per cent last year to more than £250 billion. There have been 40 new investment projects in Yorkshire alone over the past year creating more than 1,200 new jobs and safeguarding 7,000 existing jobs.
British inward investment is dominated by American companies (50 per cent, compared with just 3.6 per cent from Japan).
More importantly, the vast majority of American investors say that it will make no difference to their plans whether Britain is in or out of the euro.
Britain is attractive to inward investors because we have a flexible, lightly regulated economy, a skilled and motivated work force and a low-tax, stable business environment.
Graham Keddie,
Chairman GSPK Group of Companies,
Knaresborough.
Stan Hardy, Regional Director, Institute of Directors.
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