GovWire

In March 2023, the Chancellor and Secretary of State for the Department for Business and Trade asked Lord Harrington to conduct a Review into the UKs approach to attracting foreign direct investment in the face of increasing competition for internationally mobile investment. The Review focused on the use of tools and structures to secure major FDI investments into the key growth sectors outlined by the Chancellor Green Industries, Advanced Manufacturing, Life Sciences, Digital Technologies, and Creative Industries.

The Review engaged with over 200 companies, financial institutions, and sovereign wealth funds to identify how the UK government can build on its strengths and address key barriers to ensure it is the most attractive destination in Europe for inward FDI. Lord Harringtons recommendations put investment at the heart of all parts of government.

The Review was published on 22 November 2023 at Autumn Statement.

The government response to the external review sets out how the government intends to respond to the Reviews recommendations.

The Reviews Terms of Reference are set out on GOV.UK.