Tory lord says foreign-owned firms perform better. But WHERE DOES THE MONEY GO?

Morrisons: the supermarket chain is currently subject of a bidding war between overseas investors. It doesn’t matter who wins; British shoppers will lose.

This Lord Grimstone is apparently a business minister, which explains why the UK’s economy is tanking after Brexit.

He reckons “overseas invested companies are more productive and produce more jobs”.

And he has pointed at the fact that foreign investors have spent more money acquiring UK-listed businesses in the last eight months than in the previous five years.

This Writer has just two points to make.

Firstly, are foreign investors perhaps bidding on UK firms because Brexit and Covid-19 have cut their value to a fraction of what they were?

These people are probably hoping to make a cheap investment that will turn into a massive profit when the economy starts opening up again. This leads me to the next point.

Secondly, if formerly UK-owned firms are bought up by foreign investors, won’t all the profits go abroad, rather than staying in the UK? Put simply, won’t they bleed us dry?

A good example of this is our privatised rail service, which is now largely owned by foreign government-owned rail firms, meaning the enormous prices we pay for our train tickets helps to subsidise cheap rail travel across continental Europe.

And millions believed the Tories when they said Brexit meant taking back control!

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

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2 thoughts on “Tory lord says foreign-owned firms perform better. But WHERE DOES THE MONEY GO?

  1. The Toffee (597)

    Err… ASDA was taken over by Walmart while the UK was still an EU member…

    Nothing to do with brexit, Mike.

    1. Mike Sivier Post author

      What does that have to do with the argument put forward by the article?


      The article refers to the situation now.

Comments are closed.