Foreign investment in France plunges by 77 per cent as Hollande's socialist policies drive businesses away

• Staggering fall came as foreign investment in the EU as a whole increased
• Coincides with figures showing unemployment and poverty at new highs
• Mr Hollande claims to be a radical left-winger who 'hates the rich'
  

By Peter Allen for MailOnline and Daily Mail Reporter

Published: 20:03 EST, 30 January 2014 | Updated: 20:03 EST, 30 January 2014

Overseas investment in France fell by 77 per cent last year as Britain retained its position as the most attractive country in Europe for foreign business.

A report by the United Nations showed just £3.5billion of foreign money went into France in 2013 – the lowest amount for 27 years. By comparison, foreign investors spent £32billion in Britain.

This will inevitably add further fuel to ongoing accusations that the French economy has been woefully mismanaged by Socialist President Francois Hollande.

'Dislikes the rich': Socialist President Francois Hollande's economic policies appear to have led to a staggering 77 per cent reduction in the amount of foreign investment in France, the eurozone's second-largest economy

The UN Conference on Trade and Development, who released the estimated figures on the eve of a trip by Mr Hollande to the UK, said that this vast reduction came as foreign investment in the European Union as a whole increased.

The United Kingdom was the ninth most popular destination for foreign investment last year – and the best in Europe.

Investment in Germany soared 392 per cent to £19.6billion in 2013, while in Spain it rose by 37 per cent to £22.4billion.

The increasingly dire performance by France, which is the Eurozone’s second largest economy, is a cause of huge concern for neighbours including Britain.

Other new figures released this week show France’s unemployment and poverty rates soaring to new highs.

Despite the Mr Hollande’s highly publicised ‘promise’ that he would get the jobless figures down in 2013, the number rose by 10,200 in December.

It now stands at 11.1 per cent, or  well over 3.3 million  – a figure which rises to almost 5 million if those in part-time temporary jobs are taken into consideration.

Love split: Mr Hollande has just effectively 'fired' his first lady, Valerie Trierweiler, after being caught out travelling to a Paris love nest on the back of a moped to meet his lover, the actress Julie Gayet

Meanwhile, a damning new survey shows that the poverty rate in France is at 14 per cent – the highest for 17 years.

Researchers from social policy consultants COMPAS found that 8.7 million French people live below the poverty line.

The figures are particularly embarrassing for Mr Hollande becomes he claims to be a radical left winger who ‘dislikes the rich’ and is committed to helping the poor.

The Socialist’s disastrous economic policies have been accompanied by regular polls which prove he is the most unpopular president in the recent history of France.

He has offered a ‘Responsibility Pact’ to businesses, offering tax cuts in return for firms creating more jobs.

But Mr Hollande, who will meet Prime Minister David Cameron on Friday, is rapidly losing credibility among voters, not just because of his policies but because of his hugely embarrassing personal life.

He has just effectively ‘fired’ his first lady, Valerie Trierweiler, after being caught out travelling to a Paris love nest on the back of a moped to meet his lover, the actress Julie Gayet.

Many believe Mr Hollande should be devoting more time to sorting out France’s  massive economic problems.