City Corporation responds to new investment announcements

The Government has this week published a new National Security and Investment Bill and announced the establishment of a new Office for Investment.

In response, Lord Mayor of London William Russell said:

“As an open and outward-looking trading nation, it is vital that the UK continues to be an attractive location for international investment.

“The new Office for Investment is a very welcome step towards prioritising high value investment into areas such as the transition to net zero. We look forward to working closely with the Minister for Investment, Gerry Grimstone, and his colleagues on this important work.

“Following the publication of the new National Security and Investment Bill, we also welcome the Government’s intention to ensure speed, certainty and transparency. This will be vital to help provide the confidence needed by businesses and investors.”

Policy Chair of the City of London Corporation, Catherine McGuinness, said:

“It is more important than ever that the UK sends a positive signal to international investors as we near the end of our transition period with the European Union.

“We welcome the establishment of a new Office for Investment as a way to focus efforts to attract investment into both new and established industries. Inward investment is critical to creating the jobs and prosperity that we need to drive forward our economic recovery from this pandemic right across the country.

“Of course, the UK’s investment strategy should take account of national security. It is vital that any new process to review foreign investment is quick, clear and transparent. This will ensure the UK remains a hub for investment from across the globe.”

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk