July 01, 2006

UK top of inward investment table

While joining the Euro was a possibility one of the arguments for it was that if we did not join then we would lose all inward investment. Like many of the pro-Euro doom claims it didn't happen. What actually happened was that we managed to avoid a recession, that is still blighting Eurozone countries like Germany and Italy, and our economy grew faster than it would have in the Eurozone. As a result nward investment still flowed and this year the UK is top of the inward investment table (H/T Not Proud of Britain), even beating China and the USA.

How long this will continue remains to be seen as the cost of production here steadily climbs thanks to the EU's never ending desire to regulate all industry out of existence. The lastest being the Restriction of Hazardous Substances (RoHS) directive that was on the brink of destroying the UK organ making industry before a special exception was made for it. However it is still going to have a massive negative effect of UK manufacturing.
A European directive banning poisonous heavy metals from all kinds of electrical and electronic goods including fridges, computers and vacuum cleaners comes into force today. Experts say that the directive, which represents the largest single change ever to hit the consumer electronics industry, is causing chaos among retailers and is likely to put up prices to consumers by at least five per cent.
Can we leave now?


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