The UK is becoming less attractive for business investors, according to a poll of 250 senior executives published by the Confederation of British Industry (CBI). The MORI survey found that 70pc of business leaders said Britain's attractiveness as an investment destination had deteriorated over the last five years and 60pc expect it to get even worse over the next five. CBI director general Digby Jones called on the Government to take action to reverse the slide as 75pc of the executives said Prime Minister Tony Blair's Labour administration has become less business-friendly since 1998. "When top company decision makers start giving the kind of signals contained in our survey the Government must sit up, listen and take action," he said.
"There is widespread concern about the UK's declining competitiveness and this is starting to feed through to investment decisions. There is no room for complacency by anyone, anywhere," he added. Nearly 80pc said Britain remains a good place to do business and most expect to expand their domestic operations. But many businesses have already moved activities to countries such as India and China. //www.fxcentre.com