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George Osborne urges 'redoubled' effort to woo Chinese investors

Published 04/11/2016

Mr Osborne fears Brexit could put off foreign investment
Mr Osborne fears Brexit could put off foreign investment

Ex-chancellor George Osborne has said the UK must "redouble our efforts" to attract Chinese investment as Britain leaves the European Union.

Mr Osborne, a key Remain campaigner, has expressed his fears that Brexit could put off foreign investment.

The Conservative MP told the state-run China Daily: "We now need to do everything we can to avoid some of the dangers and difficulties that Brexit might offer up to our country.

"And one of those things is making sure it doesn't deter foreign investment, including from China.

"So I think we need to redouble our efforts to attract that investment, make it clear to Chinese businesses that their investment is welcome here."

While his Remain ally David Cameron resigned as prime minister and later as MP after the EU referendum, Mr Osborne stayed on.

But Theresa May quickly demoted him to the Commons backbenches when she was selected to take over as Conservative leader and Prime Minister.

Mr Osborne, MP for Tatton, Cheshire, also said he hoped the UK would maintain a "close economic relationship" with Europe.

He said: "I think it is good for Britain as a place to invest and a jumping off point for Europe and I think it is good for the European economy as well because Britain is an important trading partner for many European countries."

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