Investment in UK economy hits record levels, “despite Brexit”

5% higher than pre-pandemic, 10% higher than at the time of the Referendum

Montage © Facts4EU.Org 2023

Facts4EU.Org debunks another Remainer-Rejoiner myth using latest ONS data

Today we provide a summary of ‘whole economy investment’ in the last quarter, using the latest ONS data. The results provide excellent news for those who are pro-Brexit and like to see our country doing well.

Last week the Office for National Statistics released its latest report on investment in the UK economy, which showed growth in almost all sectors. Overall it hit its highest level on record, thereby putting to the sword the doom-mongering claims of those who argue for rejoining the European Union.

Facts4EU.Org has analysed the findings from the ONS and presents a summary of the key facts to know.

Brexit Facts4EU.Org Summary

‘Whole economy investment’ from Q1 1997 to Q1 2023

Using the chained volume measure – i.e. taking out the effects of inflation

1997 Q1 : £60.4bn
2016 Q2 : £95.7bn
2023 Q1 : £105.5bn - a 10.3% increase since the EU Referendum

[UK Office for National Statistics, May 2023.]

The Rt Hon John Redwood MP commented on our report:-

"Great news that investment is up since the referendum. Yet another Remain false forecast disproved.
"Why did they try to run down the UK? Why did they say unemployment would surge and house prices fall? Scaremongering like that was bad for Britain and helped them lose the vote.
"The people were right."

What is ‘whole economy investment’?

Whole economy investment is technically known as gross fixed capital formation (GFCF), and it includes business and public sector investment.

This is the main measure used by the UK and by the EU. Taken as a whole it could be said to be a measure of the confidence within a country about its future.

Investment is now over 10% higher than at the time of the Referendum

Whole economy investment (GFCF) in Q1 of this year (2023) is not only the highest on record, it is also 10.3% higher than it was at the time of the UK’s EU Referendum in June 2016.

Business investment on its own is also higher than in June 2016, when we voted to leave the European Union.

The BBC has a £3.7 BILLION budget this year
The UK’s Rejoiner-Globalists have received over £3.5m in foreign funding

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Whole economy investment is now almost 5% above its pre-pandemic levels

Investment increased by 1.3% in Quarter 1 2023 and was 4.8% above its pre-coronavirus (Quarter 4 2019) levels. Within the overall GFCF figures, business investment rose by 0.7% in Quarter 1 2023 and is 3.2% above where it was the same quarter a year ago.

Information and communication technology (ICT) equipment and other machinery and equipment, and to a lesser extent intellectual property products (IPP), contributed positively to the growth in business investment. This was only partially offset by negative contributions from buildings and structures, and transport equipment.

Observations

Brexit Britain hits its highest level of investment on record. How is this possible?

Firstly – and as we have stated repeatedly – the vote to leave the European Union was never about the economy. It was about taking back control of our own country.

Remainer-Rejoiners repeatedly try to use economics to claim that the UK would be better off by rejoining. The problem they have is they are forced to use ‘forecasts’ or ‘projections’, as the real data always proves their claims to be wrong.

So it is in this case, with overall investment in Brexit Britain at its highest level on record, and continuing to grow.

And the country did all of this “despite Brexit”…..

You will not have seen this good news on the BBC

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[ Source: Office for National Statistics, May 2023 ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Mon 15 May 2023

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Reader Comments 21

1. Captain Thunderbolt , Monday, May 15, 2023, 06:05:

Good news good to see
Remoaners will come up with som bull excuse

2. Sparky , Monday, May 15, 2023, 06:29:

No need to come up with anything, just have a look at the ONS report published on Friday where this information has come from.
.
"UK business investment rose by 0.7% in Quarter 1 (Jan to Mar) 2023 and is 3.2% above where it was the same quarter a year ago"
"The level of business investment in Quarter 1 2023 remains below that of Quarter 4 (Oct to Dec) 2019, the quarter before the coronavirus (COVID-19) pandemic, by 1.4%"
.
Conveniently Facts4EU have used gross fixed capital formation (GFCF), which includes business and public sector investment. The highest area of investment in the public sector is ICT equipment and other machinery and equipment, ICT equipment is computers, mobile phones etc. Transport is also significant, probably HS2. Public sector investment can be positive and boost the economy such as Roosevelt's "New Deal" but this is not what is happening.
.
Business investment has flat lines since the referendum, possibly due to the effects of Brexit but to be fair it is because of the uncertainty caused by Brexit. The more pragmatic approach of Rishi Sunk is much better but due to the mess and lies of Johnson (slang version) it's too late.
.
And the piece includes the usual unecessary dig at the BBC.

3. Sue, Lancashire , Monday, May 15, 2023, 07:06:

Oh Sparky, you do continue to entertain us, thank you. Facts4EU make it clear that they're using the headline measure used by the ONS and by the EU. They didn't do this "conveniently" as far as I can see but because that's the headline method.
Business investment is now up again although not by much I grant you. Still, it's up. I checked the ONS report like you and looked at the numbers too. In case you're interested business investment has risen by 42% since 2010.
One thing I do agree with you on is that public sector investment needs much more scrutiny. You didn't mention investment in climate change but that's a big worry.
Finally I think facts4eu are quite right to have a dig at the BBC.

4. Jon, Wales , Monday, May 15, 2023, 07:25:

Sparky (2) - As ever, all we hear from you my friend is whinging. If you really hate the proposition the UK is actually doing okay 'despite Brexit', then I suggest you are free to go and live in any EU country to be dictated to by an unelected commission whom you never voted for, and can NEVER vote out of office.
It is quite in order for Brexit Facts4EU.org to have a "dig at the BBC", as the BBC fail to show or disprove these researched FACTS from official sources.
When all is said and done, we all pay for the pro-EU BBC by law, so we should expect the BBC to get on board with the researched FACTS shown on this Brexit leaning site.
For sure, the UK would be in an entirely better position now if our elected politicians pulled their fingers out and made things happen as promised, but as ever, all we witness is delay after delay after delay - and I firmly believe successive governments are purposely engineering such delays, or they are being held up by snivel serpents!
That said, we know we have some great MP's fighting this battle in parliament.
However, the power hungry so-called leaders in our country are bent on watering everything down despite the many debates and UK Bills passed into UK law and are on the statute. We cannot have a foreign jurisdiction seeking to tell us what we can and cannot do. That is down to our present leader, "dear Rishi", to tell the EU commission in no uncertain terms, they have ZERO jurisdiction over our United Kingdom, which includes Northern Ireland.
The buck stops with PM Sunak, and if he can't or refuses to get on with it, he should get out of the way, or be overthrown - remember, he was NEVER voted as Tory leader from their membership, and nor was Chancellor Hunt.
As an aside, I don't believe Sunak intends to carry out his five point 'plan' - but he sure like to repeat himself. GET ON WITH IT RISHI, OR THE TORIES ARE TOAST.

5. Sparky , Monday, May 15, 2023, 07:54:

3 SL. Glad to entertain. Very interested in business investment, 42% is very good since 2010 but all that growth was between 2010 and 2016, since the referndum business investment is flat. The graph provided in the report is very clear.
4 JW. I agree that our leaders are power hungry, that was my interpretation of "take back control", it wasn't for us it was for them.
You've mentioned NI and this as discussed before is the real sticking point. Brexitears often quote the Common Travel Area to argue no need for borders in NI but the CT was put in place when UK, NI and Ireland had borders with other countries. The Troubles started when the CT was in place. The single market and open borders negated the need for borders, the GF agreement followed. Brexit has put borders back, the Windsor Framework provides the structure to avoid borders but leaves NI effectively in the EU.
Should unification happen, which Brexit has made more likely, the United Kingdom of Great Britain and Northern Ireland will no longer exist and we will live in Great Britain not United Kingdom. Makes a mockery of Farage's UKIP.

6. LuxuryBalloon , Monday, May 15, 2023, 08:35:

It is disappointing that the business investment has only increased by 0.5% since the 2016 Brexit referendum. UK businesses need to step up to ensure Brexit is a success.

7. Buster , Monday, May 15, 2023, 08:50:

Ah. You got the idiot Redwood to comment on it. Must be true then. Lol.
Seriously. Deadwood will be losing his seat at the next election - and we will then deal with him at the inevitable Brexit public inquiry.
Frankly, he’s a traitor who belongs in Belmarsh.

8. Jon, Wales , Monday, May 15, 2023, 08:58:

Sparky (5) - You're going off track. However, the CTA is between Ireland and the UK and has nothing to do with the EU.
GB and NI are one country which must be accepted, and we cannot have our politicians attempting to carve up our country, and ANY PM should not agree to such a thing. Importantly, if the EU commission insist on a 'hard' border between Ireland and NI, it is for the EU to place it on EU territory in Ireland - just imagine the argument Varadkar would then have with the EU if the commission so insisted.
BUT no-one insisted on this - but it was Barnier playing the fool with peace and stability in NI just because the UK-wide outcome was to exit the EU construct.
So far as the WF is concerned, this was a massive sell-out by Sunak, and he can NEVER be forgiven for it, especially when there was little or no debate in parliament about the matter. Appears to me like "dear Rishi" has done a secret 'deal' with the unaccountable commission - akin to the treacherous actions of Ted Heath back in the 1970's.
FACTS4EU have produced extensive articles about the WF, and I choose not to go into it again here as it detracts from the subject of todays article.
I would like you to admit just one thing, however - Do you believe ALL citizen's in our country should expect BBC News to pick up FACTS4EU articles, seeing as we all pay to fund the BBC by law. It is supposedly our national broadcaster. Answer that question my friend, and then it's over and done with.
The problem is that while I'm certain the BBC read these factual articles, their news editors dare not broadcast these facts for fear of upsetting their pro-EU bosses.

9. Captain Thunderbolt , Monday, May 15, 2023, 09:05:

Foreign Direct Investment: UK remains second in Europe despite a fall in project numbers, new EY report reveals
The UK recorded 929 Foreign Direct Investment (FDI) projects in 2022, down 6.4% from 993 in 2021 – France continued to lead Europe with Germany ranked third
Total FDI projects in Europe were up just 1.4% in 2022 – with the UK’s share of the European inward investment market down to 15.6% from 16.9% in 2021
But the UK performed well on project value, delivering the highest jobs total in Europe, more jobs per project than Germany or France, a strong R&D performance, and Europe’s most ‘new’ projects
UK tech FDI projects were down 23.3% in 2022 – a key factor in the UK’s overall project decline – but the UK still led Europe in the tech sector
11 May 2023
Ernst& young

10. Kate , Monday, May 15, 2023, 09:31:

Buster, you call Redwood an idiot, yet your 'best' arguments are:
"Ah"
"Lol"
"Seriously"
"Deadwood"
"Frankly"

21 comments, page 1 of 3

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