The Big Five firm’s European Investment Monitor revealed that the UK took around 24% of the 2,100 projects undertaken throughout Europe but there is evidence that the UK’s share is in decline.
While Britain is securing 130 fewer projects, France saw its market share increase to 18% with a jump to 391 projects.
Barry Bright, director of E&Y’s International Location Advisory Services, said: ‘The implications of these results cannot be ignored, a simple cause and effect between the UK’s non-participation in the euro is not the whole story.
‘But as 50% of UK investments originate from the US, the impact of a weakened euro against the pound and dollar has certainly made the UK less cost competitive as far as manufacturing is concerned.’
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