A key part of our economic success as a nation is our ability to attract investment from overseas. Attracting global firms to bring their operations to the UK, and then stay and expand in the UK, creates valuable jobs and helps local communities thrive. In other words, inward investment is critical both to the perception of the UK as a global economic power at the cutting-edge of technological developments and ready to face the challenges of climate change. And the urgent need to level up our regional economies and bring greater prosperity to all parts of the UK, raising living standards for individuals up and down the country.
Evidence as well as logic shows that talent and skills are important factors for international firms to consider when choosing where in the world to base their operations. The professional services firm EY’s annual Attractiveness Survey has shown over successive years that access to skills is a key concern for international firms when choosing whether to locate or expand in the UK. In the most recent publication skills is a particular concern for local economies with investors reporting that the availability and skills of the local workforce was their top criteria when considering whether to invest in regional locations outside London. Read more about the taskforce.