61% of manufacturing companies with more than 500 employers in the UK are now foreign-owned, confirms Government.
Baroness Neville-Rolfe, a UK minister, revealed the figure in response to a written parliamentary question from former Tory minister Lord Patten.
Foreign investment welcomed
In her answer, the baroness said there were 320 manufacturing enterprises in the UK with more than 500 employees that are foreign owned – which have more than 50% foreign control.
“This is 61% of manufacturing companies with over 500 employees. The UK welcomes foreign direct investment and enjoys the benefits of jobs and skills that it brings and UK manufacturing continues to be globally attractive and competitive,” she added.
The minister also said the Government was “not aware” of any evidence that indicated foreign-owned firms treated UK management any differently to British-owned businesses.
Government building up “indigenous” skills
She said that steps were being taken to increase indigenous management skills and capability, including apprenticeships.
Work by senior industry leaders to increase manufacturing productivity in the UK is also being supported by the government.
The Government is also supporting work being undertaken by senior industry leaders to examine ways to increase manufacturing productivity in the UK – including in leadership, management and employee engagement.
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