‘Britain represents a great opportunity for Japanese firms’ says Grayling

‘Britain represents a great opportunity for Japanese firms’ says Grayling

Secretary of state for transport Chris Grayling met with a number of high profiled Japanese politicians and business leaders yesterday to reassure them that the UK remains open for business.

Setting the British people’s decision to leave the European Union in context, Grayling sought to allay concerns in Japan and talk about the new trade and investment opportunities for Japanese companies operating in the UK.

Speaking at the event, Grayling said: "The EU referendum outcome was a decision to leave the European Union - not to leave Europe. I believe the UK and the EU each have more to offer the world as independent friends and allies than we do in a strained union. However, we are now looking forward to the future.

"Following the referendum, we can have a more global focus and strengthen ties with our very closest partners like Japan. We benefit more from Japanese investment than any other country in the world apart from the US. As recently as July, Sumitomo Corporation signed a deal to invest £180m in a new wind farm off the Suffolk coast."

He also spoke of the competitive offer the UK boasts, adding: "The UK has always been on the side of competition, enterprise and free trade. Our corporation tax is just 20% - already the lowest in the G7, and it will fall to 17% as of 2020. We have the best superfast broadband coverage of any major European economy.

"And we are building a world-leading transport system. Even today, we have the second largest ports industry in Europe; the largest air transport system in Europe; and the most improved rail network in the EU. Last year, Britain was the second fastest growing major economy and one of the top 10 most competitive countries."

To hear more from secretary of state Grayling’s speech, watch the video highlights below: