Top UK officials on charm offensive to woo foreign investment to Britain

[LONDON] With the grim prospect of a recession sometime this year, British politicians are calling for greater foreign investment to give the economy a much-needed boost and counter dual trade and budget deficits.

At the World Economic Forum in Davos a fortnight ago, Secretary for International Trade Kemi Badenoch and former foreign secretary William Hague were busy networking as they made separate pitches to woo potential investors to the UK.

“A country with low savings rates, poor productivity growth and a huge trade deficit cannot manage without a healthy flow of foreign capital,” said Hague.