Britain scoops majority of foreign investment in the EU

Britain
was the top destination in Europe for foreign investment last year, according
to research from IBM.

It
said that more than 55,000 jobs were created in the UK thanks to overseas
investment last year. This amounted to a 15 per cent share of all new jobs in
Europe, and placed Britain ahead of the Czech Republic, Germany and Russia.

Roel
Spee, IBM consultant, said: "The UK is quite well-positioned to remain on
top for quite some years. But the balance between eastern and western Europe is
in flux, and all western countries have lost out to the newcomers."

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Worldwide,
the US scored first place, with Britain in fourth position.

By Ross Wigham