Britain lags behind France for foreign investment

Britain lags behind France for foreign investment

The UK lagged behind France in luring foreign investment again last year as Emmanuel Macron fights to win more business from the City. The gap between the number of foreign investment projects sealed in the UK and France widened after Mr Macron’s drive to entice deals through pro-business policies. France was the top foreign investment destination in Europe in 2021 with 1,222 projects, up 24pc compared to the year before to mark a record for the region, according to EY’s annual attractiveness survey. Investments in the UK, meanwhile, were up 1.8pc at 993 projects while Germany was in third place after suffering a 10pc fall to 841 projects. France stole the UK’s investment crown in 2019 after Mr Macron went on a charm offensive to woo businesses after Brexit, including tax cuts and labour market reform. The French president has made repeated efforts to tempt financial services from London and held investment summits to capitalise on Brexit uncertainty . Peter Arnold, UK chief economist at EY, said: “Macron has been very successful in showcasing France as a place for inward investment. “Since Macron was elected, and post the Brexit vote in 2016, you have seen a stronger showing by France.”