The latest stats from the Department for International Trade show a worrying drop in foreign investment coming into the UK in the last financial year. Additionally the Governor of the Bank of England, Mark Carney, gave evidence to the Treasury Committee and said Brexit uncertainty has had an impact on business investment.
Commenting, Liz Kendall MP, leading supporter of the People’s Vote campaign, said:
“The chaotic mess that Brexit has become is already doing huge damage to our economy, costing upwards of £800m a week in lost growth according to the Bank of England, and this worrying drop in investment is a further symptom. But this will become far, far worse if the country is forced against its will into a destructive No Deal.
“Boris Johnson, the man who said 'F- business', looks likely to become the next Prime Minister and seems intent on dragging the country towards crashing out of the EU without a deal, despite having no public or parliamentary mandate to do so. This will mean factories closing, jobs moving overseas, more lost investment and less money for our NHS and public services.
“With the economic damage already caused by Brexit increasing by the day, the only way to deliver a lasting and stable settlement to this crisis is to give the public the final say.”
Notes to editors
The foreign investment stats can be seen here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/811283/dit-inward-investment-results-2018-to-2019.pdf
Mark Carney’s comments can be read here: https://twitter.com/RJPartington/status/1143824661198901250