Will the Northern Ireland deal reboot inward investment?

The pound rose a cent or two against the dollar in response to the new trade deal for Northern Ireland. The FTSE 100 index rose on Monday but slid back on Tuesday, deterred by the prospect of a stronger pound, while the more domestic FTSE 250 showed a clearer uptrend. Overall, markets were cautiously positive about the Windsor Framework, not so much for its effect on movement of goods through Northern Irish ports as for its signal of calmer UK-EU trade relations ahead on a wider front.

And what really matters is whether this change of tone catalyses a new wave of inward investment. The recent claim by economist Jonathan Haskel that Brexit had cost us £29 billion in lost investment and productivity provoked outrage in some quarters. Yet there can’t be serious doubt that the UK has looked a dangerously uncertain destination for anyone’s capital these past seven years: our pent-up potential has been held back by angry stalemate around the Irish border.