Rebalancing the economy
The UK is showing strong signs of recovery from the recent recession and holds the number one position in Europe for Foreign Direct Investment. Our 2014 UK Attractiveness Survey tells a compelling story of growth, but raises issues around the concentration of investment in London, with our regions showing slower signs of recovery. At EY, we are committed to understanding the reasons behind this and to start looking at ways in which the UK can effectively ‘rebalance its economy'. We believe that now is the time to consider the manufacturing opportunity.
The OBR’s new forecasts are likely to cheer the Chancellor, who will be able to trumpet upgrades to economic forecasts and downgrades to borrowing projections.
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The UK is now the most attractive European location for global investors, up from eighth place to fifth in the worldwide ranking of countries that investors see as attractive for FDI over the next three years.
The UK economic outlook is positive. GDP is rising, business investment strong, and export performance expected to improve. What does this mean for FS in 2015?
In 2013 Scotland attracted 82 global Foreign Direct Investment (FDI) projects – an increase of 8% on the previous year’s figure and only six short of the record number of 88 recorded in 1997.
Scotland’s economy will continue to grow into 2015 following its strongest year since the financial crisis.