by Atul Hatwal
New figures uncovered by Labour Uncut reveal that investment in the UK by foreign companies has plummeted by a third. The latest results, released at the start of February, are for 2010 and show a massive fall of £16.2bn from the £49bn invested in 2009 to £32.8bn in 2010.
In an ominous sign for David Cameron’s isolationist European policy, the biggest fall over the year was in investment from Europe which fell by 94% from £32.1bn in 2009 to £1.8bn in 2010 – the lowest level since records began in 1988.
Despite the British prime minister’s initial close relationship with French president Nicolas Sarkozy, France led the way in withdrawing funds from the UK. They cut their investment in Britain by a net £23.7bn in 2010, a record for a European country.
