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Prosperity in a
changing world
The UK offers tremendous strengths as a place in which and with which to do business. It is a vibrant and dynamic economy, and should continue well into the next decade. It is also the natural partner for US companies.
The UK is already home to more than 6,500 US companies and, last year, it attracted 446 new investments from the US. Every day, more than a million Brits go to work for a US company and vice versa. The UK is one of the most attractive locations to undertake business Research & Development (R&D). It has an outstanding research base, the second strongest in the world behind only the US. The UK government is investing unprecedented sums in the science base, doubling the funding since 1997.
The UK has also adopted a 10-year science and innovation programme to make research more relevant for, and accessible to, the industry. We have set aside £370m to help companies pinpoint relevant R&D excellence and collaborate with UK companies and research organizations. Our tax credit for business R&D – now worth £600m a year to business – is one of the world’s most attractive, with allowances of up to 150% of qualifying spend. The UK is also ensuring the provision of the right skills for business. Our labor market is the most flexible in Europe, and we have established 25 business-lead sector skills councils to ensure that the skills that you need exist (now and when you are ready to scale up).
The UK has a stable business environment that benefits from a well-established, flexible, highly pragmatic approach – yet, one bound by respect for rules and regulations. We believe in free trade and equal treatment. We do not, for example, differentiate on the grounds of corporate ownership in terms of regulation, or access to support services. The UK also has a climate of creativity that makes for innovation in every aspect of life. Our multicultural population stimulates diversity of thought and talent, and also results in an international outlook.
London, our capital city, is a magnet for the rest of the world. It is also the world’s global financial center with the deepest, most liquid markets and unrivalled expertise in delivery of tailored, innovative solutions to business finance. Also, it will host the Olympic games in five years’ time.
UK Trade & Investment is the government organization that helps UK-based companies succeed in an increasingly global economy. Its range of expert services are tailored to the needs of individual businesses to maximise their international success. UK Trade & Investment also helps overseas companies bring highquality investment to the UK’s vibrant economy – acknowledged as Europe’s best place from which to succeed in global business. We provide support and advice to investors at all stages of their business decision-making.
UK Trade & Investment offers expertise and contacts through a network of international specialists throughout the UK, and in British Embassies and other diplomatic offices around the world. In July 2006, UK Trade & Investment launched a new strategy that supports US companies more intensively through longterm relationships, shares insights with commercial implications with you, helps you penetrate the UK’s science base and makes your views and needs known to the wider UK government. BritishAmerican Business will remain a core collaborator. We look forward to working with BritishAmerican Business in continuing to expand the dynamic business relationships between our two countries.
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