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The Treasury has been urged to "stop meddling" with the government's overseas investment vehicle, UK Trade and Investment (UKTI).

A report from the trade and industry committee says UKTI has undergone too many organisational changes in recent years to the detriment of international investors.

MPs also note that Gordon Brown's impending elevation from the Treasury to No 10 Downing Street could herald a period of "further damaging upheaval for UKTI".

"If UKTI is to have a chance of successfully implementing its current strategy, the government, and in particular the Treasury, must refrain from further adjusting the priorities and structure of the organisation, and allow it to get on with doing its job," today's report states.

UKTI is the government organisation responsible for promoting Britain as a destination for foreign investment and supporting UK exporters.

The trade and industry committee acknowledges that the body's new strategy has its support, and it commends its track record in attracting high-value foreign business to the UK.

But it says it is "very concerned" at the three separate strategy alterations since its creation four years ago.

"UKTI does a valuable and commendable job, especially given that it has been struggling with multiple changes in strategy imposed from on high," commented committee chairman Peter Luff.

"It must be left to get on with this job."

Commenting on today's report, Confederation of British Industry (CBI) deputy director general John Cridland said that MPs were right that UKTI needed to be "free from further changes of direction".

The British Chambers of Commerce's director of external affairs Sally Low added: "This report correctly highlights the damage that government changes to the priorities of UKTI have done over the last few years.

"The impact of the cuts in UKTI's budget and the shift in its focus to inward investment at the expense of export support and promotion are particularly concerning."