Supporting investments in the UK

Public Accounts Committee Closed Inquiry
Opened: 20 Jan 2023 Closed: 24 Sep 2023 Parliament page
The Department for International Trade (DIT) is responsible for supporting investment into the UK from overseas. Working with the Office for Investment and a range of other government departments and bodies, DIT aims to achieve economic growth in all the nations and regions of the UK. Based on the NAO … Read more
7 Recommendations
21 Conclusions
1 Report
1 Oral session
1 Letter
1 Event
Activity timeline 5 events
24 Sep
2023
Report published
9 Jun
2023
Report published
25 May
2023
Correspondence
6 Mar
2023
Oral evidence
6 Mar
2023
Formal meeting (oral evidence session) · The Wilson Room, Portcullis House
Oral evidence sessions 1 session
6 Mar 2023
View on parliament.uk
Supporting investments in the UK
Amanda Brooks CBE · Department for Business and Trade Ceri Smith · Department for International Trade Daniel Gieve · Office for Investment Gareth Davies CB · Department for Business and Trade
Title HC No. Published Items Response
Fifty-Sixth Report - Supporting investment into the UK HC 996 9 Jun 2023 28 Responded
Recommendations & Conclusions
4 results
Clear
5 Conclusion Rejected
Fifty-Sixth Report - Supporting in…
Ensure overseas posts prioritise investment support and train staff on UK-wide opportunities
Overseas posts have a range of roles and priorities and may not be consistent in promoting investment across the UK. Potential investors’ first contact with the Department is often with staff in overseas posts whose role is to help them … Read more
Government Response
The government rejected the recommendation, stating it already provides comprehensive investment training through its Investment Academy for staff globally and delivers pre-posting training for senior officials, arguing these existing provisions address the committee's concerns.
HM Treasury
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19 Conclusion Rejected
Fifty-Sixth Report - Supporting in…
Overseas posts possess insufficient knowledge of UK-wide investment opportunities.
Potential investors’ first contact with the Department is often with staff in overseas posts. The Department’s network of more than 90 overseas posts across nine geographical 35 C&AG’s Report, para 3.9 36 C&AG’s Report, Figure 2 and Figure 14 37 … Read more
Government Response
The government disagrees with the Committee's concern, stating that senior FCDO leaders already play an important role and describing existing training programmes like the Investment Academy, pre-posting training, and access to Trade Faculty learning.
HM Treasury
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20 Conclusion Rejected
Fifty-Sixth Report - Supporting in…
Overseas posts exhibit varying levels of staff knowledge and expertise.
We are concerned that staff in overseas posts may have varying levels of knowledge and expertise. We asked the Department about the training available for overseas staff and how the Department is involved in framing the training.50 The Department said … Read more
Government Response
The government disagrees with the Committee's concern, stating that senior FCDO leaders already play an important role and describing existing training programmes like the Investment Academy, pre-posting training, and access to Trade Faculty learning.
HM Treasury
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21 Conclusion Rejected
Fifty-Sixth Report - Supporting in…
Investment support remains a low priority in smaller overseas posts.
Support for investment may not be a priority among embassies’ other responsibilities, particularly in smaller posts where there are only one or two investment deals each year. We asked the Department whether all embassies are focused on investment. The Department … Read more
Government Response
The government disagrees with the conclusion that support for investment may not be a priority for embassies. It explains that investment priorities are aligned and targets agreed annually with HM Trade Commissioners, supported by comprehensive training for overseas staff.
HM Treasury
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Government Response AI assessment · 28 of 7 classified
Accepted 14
Acknowledged 8
Deferred 1
Not Addressed 1
Rejected 4
Total 7 recs + 21 conclusions
Correspondence 1 letter
25 May 2023 Correspondence from Gareth Davies, Permanent Secretary, Department for Business and Trade, re Supporting Investment into the UK, dated 23 March 2023
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