Letter to the Editor
Nottingham Evening Post - Wednesday, 6 November 2002
Dear Sir,
Elizabeth Donnelly of Stapleford claims that foreign investment in Britain has slumped as a result of investors shying away from 'the uncertainties outside the eurozone' (Letters, 29 Oct). In fact, figures from UNCTAD, the United Nations Conference on Trade and Development, show that foreign direct investment levels in the UK have remained steady over the last five years and in the financial year 2001-2002 the stock level of inward investment in fact increased by 10 percent.
Since the launch of the euro Britain's trade with the eurozone has grown faster than the euro members' trade amongst themselves, and the British economy has not been hampered by the financial problems facing Germany and other eurozone countries.
By staying out of the European single currency, and maintaining (in contrast to the European model) a low tax environment with a flexible workforce, the UK is and will remain more attractive to foreign investors than the overly regulated, inflexible economies of the eurozone.
Yours sincerely,
Roger Helmer MEP
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