Foreign direct investment (FDI) into UK tech projects has fallen as the country faces continued industry criticism that it is “closed for business”.
Whilst UK foreign investment overall saw a 6% decline it remained in second for the most amount of oversee investment at 929 projects.
FDI for tech projects has declined further, dropping by almost a quarter (23%) last year compared to 2021.
Julie Linn Teigland, managing partner, EMEIA, EY, said: “Europe’s critical ambition should be to create the conditions for business to manufacture in Europe, invest in R&D, and make the digital and green investments that will power future prosperity.”
The UK did come top for jobs generated as a result of outside capital at 46,779, more than France’s 38,102....