- United Kingdom: according to a study carried out by US consultants ERNST AND YOUNG, although the United Kingdom is the European country receiving most direct foreign investment, the number of projects receiving this kind of investment is declining, as well as the difference between the level of investment going to the UK and other countries. In the first six months of 2001, the UK won 197 new investment projects, 21% of the total number of projects in Europe. Nonetheless, ERNST AND YOUNG stresses that for the first time since 1997, this figure is less than the figure for 2000. The consultancy gives several reasons for this decline: social laws in Britain are now converging with those in continental Europe; telecommunications have been privatised and liberalised throughout Europe; English is spoken in all European countries and production costs are less competitive than before.