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Written question asked by Chi Onwurah (Labour) on Monday, 27 November 2023, in the House of Commons. It was due for an answer on Thursday, 30 November 2023 (named day). It was answered by Alex Burghart (Conservative) on Thursday, 30 November 2023 on behalf of the Cabinet Office.

Technology: Foreign Investment in UK

Question

To ask the Minister for the Cabinet Office, what assessment he has made with Cabinet colleagues of the potential impact of the GREAT Tech campaign on (a) overseas investors' perceptions of the UK’s technology ecosystem and (b) the propensity of overseas investors to invest in the UK.

Answer

The Unicorn Kingdom campaign was launched by GREAT in March 2023. The campaign’s primary purpose is to improve perceptions of the UK tech ecosystem and drive inward investment.

To date the campaign has directly engaged US investors representing over $500 billion in assets under management and several of those investors are actively engaging with HMG in relation to establishing offices in the UK.

A comprehensive evaluation will be completed in 2024 to assess the campaign's impact on international perceptions of the UK's technology ecosystem, the number of overseas investors considering investing in the UK, and the amount of overseas investment attributed to the campaign. We will continue to monitor impact from the campaign beyond this initial evaluation period.

Secondary information

Type
Written question
Reference
3816
Session
2023-24
Transferred
Yes
Subjects
Technology Foreign investment in UK
Link
View this Written question on www.parliament.uk