Department for Business and Trade

The Government’s Industrial Strategy will be published shortly. Defence has been identified as a priority growth-driving sector within the Industrial Strategy and the Ministry of Defence is developing a sector plan - the Defence Industrial Strategy - to ensure we seize the opportunities.

The Golden Valley Development in Cheltenham is a nationally significant, £1billion investment in the UK’s cyber security sector. By co-locating industry, innovators, academia, and government agencies adjacent to GCHQ, it will accelerate the development of sovereign cyber capabilities, supporting national security and economic growth and resilience. The Department for Science, Innovation and Technology continues to work to encourage further growth in the sector.

The government is committed to ensuring the FWA has the resources it needs to do its job. Further details around the implementation and funding will be provided in due course.

In the meantime, the published impact assessment on our plans to create the Fair Work Agency provides data on the budgets of the state enforcement bodies which will be brought together in the first phase of this important work.

The UK is well placed to support a thriving hydrogen economy, with a robust and growing pipeline of production projects in development in the coming decade, providing an opportunity for domestic and international investors. My department has been working closely with the Department for Energy Security & Net Zero to showcase the opportunities for investment in the UK hydrogen sector.

We recently announced 27 shortlisted green hydrogen projects across the UK for the second Hydrogen Allocation Round (HAR2), marking a key milestone and reaffirming the Government’s commitment to the sector. Our upcoming industrial strategy will provide support for global investors.

P&O Ferries Limited has incurred the following penalties for delivering overdue accounts for the reporting years specified:

Accounts for the year ending 31 December 2023 will incur a £3000 penalty when they are delivered.

The Public Sector Fraud Authority administers the Government Counter Fraud Profession (GCFP), which holds records of Government officials who have achieved Practitioner member or Affiliate status under the GCFP standards.

• 2 DBT Officials hold qualifications recognised under the GCFP framework.
• 4 Officials hold accreditation under the Counter Fraud Investigator Standard at the following level:

(1) Foundation – 0

(2) Practitioner – 1

(3) Advanced Practitioner – 3

Of these:

(4) Investigation Manager - 3

(5) Senior Investigation Officer – 1

Officials are also enrolled with the PSFA for forthcoming GCFP training and qualifications with the PSFA.

The Companies Act 2006 applies equally to all UK registered companies and their officers regardless of where the directors are based.

Insolvency Service decisions to pursue an allegation of criminal misconduct by a foreign resident director of a UK registered company will assess the seriousness of the offence(s) alleged, whether there is a reasonable prospect of securing their return to the jurisdiction for any prosecution and the resources required.

Civil enforcement requires leave of the court to serve proceedings outside the jurisdiction.

Companies House does not currently hold this statistic. Furthermore, as country of residency is a voluntary field there are issues with the data quality. However, the introduction of voluntary and mandatory identity verification will allow us to be able to analyse and determine the residency of company directors in the future.

The Office for National Statistics (ONS) data suggests that 371,000 employee jobs were underpaid the National Minimum Wage (NMW) / National Living Wage (NLW) in April 2024. This represents approximately 1.3% of the total number of employee jobs: Low and high pay in the UK - Office for National Statistics.

The Government is committed to implementing the Windsor Framework and protecting the UK internal market.

With respect to the updated General Product Safety Regulation, as referenced in Question [18502], I understand that, for some businesses, the regulation has required changes. The Department has issued guidance for businesses selling to Northern Ireland and has continued to engage businesses directly to ensure that they understand the obligations.

The UK Government has a clear position that Israeli settlements in the Occupied Palestinian Territories are illegal under international law. There are clear risks related to economic and financial activities in the settlements, and we do not encourage or offer support to such activity. Goods produced in these settlements are not entitled to benefit from preferential tariff treatment under the UK's current trade agreements with the Palestinian Authority and Israel.

The overseas business risk guidance, available on gov.uk, provides information for UK operators on how goods from Israel and the Occupied Palestinian Territories should be labelled.

The Industrial Strategy Advisory Council is supported by a team of DBT civil servants, housed in the existing DBT estate. The costs of its secretariat are expected to be comparable to the secretariats of similar advisory bodies. Precise budget estimates are subject to Spending Review and business planning processes.

There are no changes to vehicle safety standards in the General Terms of the UK-US Economic Prosperity Deal. Before placing a vehicle on the market in Great Britain, a vehicle manufacturer must demonstrate that it complies with the relevant regulatory requirements as set out in the GB Type Approval scheme. Upholding these standards remains a UK priority.

In addition, the UK-US deal does not change Britain's high animal welfare and environmental standards. Our approach to this trade deal has ensured that agricultural imports coming into the UK meet the highest food safety standards.

On 8 May, we concluded a landmark economic deal with the US. For the first time ever, this deal will open up exclusive access for UK beef farmers to the US market. This is a major opportunity for British farmers to sell their high-quality British beef to a market of over 300 million people, helping farmers grow their business.

We are engaging extensively with the agricultural and food sectors and will always put the UK’s national interest first.

There are no changes to vehicle safety standards in the General Terms of the UK-US Economic Prosperity Deal. Before placing a vehicle on the market in Great Britain, a vehicle manufacturer must demonstrate that it complies with the relevant regulatory requirements as set out in the GB Type Approval scheme. Upholding these standards remains a UK priority.

In addition, the UK-US deal does not change Britain’s high animal welfare and environmental standards. Our approach to this trade deal has ensured that agricultural imports coming into the UK meet the highest food safety standards.

UK Export Finance is currently in talks with project sponsors and other lenders, including export credit agencies, and other stakeholders, regarding the latest status of the Mozambique LNG project. At present, UKEF is engaged in conducting relevant due diligence which has yet to conclude.

UK Export Finance follows internationally recognised frameworks for managing environmental, social & human rights risks and impacts of relevant projects. UKEF will take proper account of relevant factors, including international climate change issues.

UK Export Finance is currently in talks with project sponsors and other lenders, including export credit agencies, and other stakeholders, regarding the latest status of the Mozambique LNG project. At present, UKEF is engaged in conducting relevant due diligence which has yet to conclude.

UK Export Finance follows internationally recognised frameworks for managing environmental, social & human rights risks and impacts of relevant projects. UKEF will take proper account of relevant factors, including international climate change and human rights issues.

UK Export Finance is currently in talks with project sponsors and other lenders, including export credit agencies, and other stakeholders, regarding the latest status of the Mozambique LNG project. At present, UKEF is engaged in conducting relevant due diligence which has yet to conclude.

UK Export Finance follows internationally recognised frameworks for managing environmental, social & human rights risks and impacts of relevant projects. UKEF will take proper account of relevant factors, including international climate change and human rights issues.

UK Export Finance is currently in talks with project sponsors and other lenders, including export credit agencies, and other stakeholders, regarding the latest status of the Mozambique LNG project. At present, UKEF is engaged in conducting relevant due diligence which has yet to conclude.

UK Export Finance follows internationally recognised frameworks for managing environmental, social & human rights risks and impacts of relevant projects. UKEF will take proper account of relevant factors, including international climate change and human rights issues.

The estimated equity finance gap (the difference between actual equity investment and potential equity investment) for all but established companies was £7.5 billion in 2021. [1] There is an equity finance gap in every region and nation of the UK; London has the largest absolute equity finance gap, while Yorkshire and Humber has the largest relative gap. [2] The British Business Bank is helping to close that gap through its Nations and Regions Investment Funds and the Regional Angels Programme, which also attract additional private investment for businesses outside London and the South East.

[1] Supporting Innovative Start-Up and Growing Businesses: Equity Finance Provision through the Pandemic: Interim Report by Marek Kacer, Nick Wilson :: SSRN (DBT commissioned and funded)

[2] Equity Finance and the UK Regions (BEIS research paper)

Businesses in shallower finance markets outside London and the South East are less likely to be able to access growth capital, meaning high-potential businesses may be forced to relocate or else accept slower growth. The British Business Bank’s Nations and Regions Investment Funds help close the gap by providing finance for businesses to invest and grow across the UK, meaning the growth and jobs created by businesses benefit local communities. In the longer term, the Funds will create more dynamic ecosystems made up of investment-savvy business owners and private investors who know there are good investment propositions available.

The Industrial Strategy Green Paper identified eight growth-driving sectors: Advanced Manufacturing, Clean Energy Industries, Creative Industries, Defence, Digital and Technologies, Financial Services, Life Sciences and Professional and Business Services. All sectors will benefit from wider policy reform through the Industrial Strategy’s cross-cutting policies alongside the broader Growth Mission. This will help create the pro-business environment for all businesses to invest and employ, and consumers to spend with confidence.

Government launched a licensing taskforce to reduce red tape and barriers that too often hold businesses back and we intend to introduce permanently lower business rates for retail, hospitality and leisure properties with a rateable value less than £500,000.

Additionally, we’ve announced a £1.5 million Hospitality Support Scheme to co-fund projects that align with Department for Business and Trade and Hospitality Sector Council Priorities, this will include helping those furthest from the jobs market into work and improving business productivity.

£3.8 billion was allocated to The Department for Business and Trade as part of the Spending Review, which includes funding for the Office for Investment (OfI). As set out previously, (9th June), the OfI's budget for FY 2025/6 is £24,671,291.

The Industrial Strategy will focus on eight growth-driving sectors. Digital and Technologies has been identified as one of those eight sectors, the UK being the third country in the world to have a tech sector valued at over $1trillion. Within those growth sectors, the Government will prioritise sub-sectors that meet our objectives and where there is evidence that policy can address barriers to growth.

This government will continue to speak up on human rights in China, including the repression of people in Xinjiang, and will continue to hold China to account.

The new Critical Minerals Strategy will help secure the supply of critical minerals vital for the UK's economic growth and clean energy transition. The strategy will promote responsible and transparent supply chains, including through greater adoption of responsible business practices to protect local communities and the environment.

We will continue to assess and monitor the effectiveness of the UK's existing measures, alongside the impacts of new policy tools, to ensure we can best promote responsible business practices and take action where appropriate.

This government will continue to speak up on human rights in China, including the repression of people in Xinjiang, and will continue to hold China to account.

The new Critical Minerals Strategy will help secure the supply of critical minerals vital for the UK's economic growth and clean energy transition. The strategy will promote responsible and transparent supply chains, including through greater adoption of responsible business practices to protect local communities and the environment.

We will continue to assess and monitor the effectiveness of the UK's existing measures, alongside the impacts of new policy tools, to ensure we can best promote responsible business practices and take action where appropriate.

His Majesty's Government have not taken any steps to identify deposits of manganese in the sea bed within UK territorial waters.

The UK has a range of measures in place to promote responsible business conduct across the economy. The Government also supports voluntary due diligence approaches taken by UK businesses to identify and prevent human rights abuses and environmental harms across their operations, purchasing practices and supply chains, in line with the UN Guiding Principles on Business and Human Rights (UNGPs) and the OECD Guidelines for Multinational Enterprises.

We will continue to assess and monitor the effectiveness of these existing measures, alongside the impacts of new policy tools, to ensure we can best promote responsible business practices and take action where appropriate.

The total stock of UK assets invested abroad was £13.4 trillion in 2023 according to the ONS Pink Book of this £4.7 trillion was invested in the United States. While the total stock of foreign investment in the UK was £14.1 trillion in 2023. The UK government promotes and facilitates inward foreign direct investment in the UK through the newly expanded Office for Investment (OFI), FDI leads to direct economic benefits for the UK. The UK allows free movement of international capital, both inward and outward investment can lead to business opportunities, higher economic growth and higher investment returns.

Last year the Government launched a Call for Evidence on the UK's regulatory landscape to hear directly from business how regulation could be improved. In March we launched our Action Plan for Regulation, committing to cut administrative costs of regulation for business by 25%, giving them essential time back to focus on growing their businesses. The Secretary of State and I held a call with businesses and representative organisations, including Airbus, the British Retail Consortium and UK Space, to hear their feedback on the Action Plan. Officials in my department continue to engage regularly to support our regulatory reform agenda.

My Department is working with the Post Office to develop a way to fairly assess claims where there is no record of a Horizon Shortfall. Recognising the challenges postmasters may face in providing evidence, Post Office is further investigating its branch files as quickly as possible.

Fixed sum payments will be made as quickly as possible when evidence of shortfalls is found. Where further information is required, Post Office will ask individuals for further information.

Claimants opting for a full assessment will have their case considered on the basis of the evidence available.

The British Business Bank is represented on the Schroders' advisory board but does not hold a vote on the LTAF investment decisions.

As the start date of this request (6th April 2022) pre-dates the formation of DBT (7th February 2023), information in scope of this request would include data captured by DBT's predecessor, Department for International Trade (DIT).

The number of permanent civil servants who had their contract of employment terminated as a result of poor performance can be found in the table.

Businesses have told us that regulation can be too complex, stifle progress and innovation and the accumulation of poorly designed regulation over decades is a burden to comply with. Our recently published Action Plan for Regulation will aim to reduce these burdens for SMEs, with a commitment to cut administrative costs for business by 25% by the end of this Parliament. The measures announced in the Action Plan will also support the Government's SME Strategy, which aims to provide SME's with the certainty and support they need to succeed.

On 17 March 2025 the government published an Action Plan setting out its approach to regulation and regulators, which made a firm commitment to cut the administrative costs of regulation for business by 25% by the end of the Parliament. This commitment will require deregulation of the existing stock of regulations and control the flow of new regulations to reduce costs.

The Department for Business & Trade, in collaboration with HM Treasury and departments across government, is working to establish the mechanisms needed to achieve this commitment and report on progress. The government will make a further announcement in due course.

The Department for Business and Trade (DBT) introduced the Employment Rights Bill on 10 October which is currently passing through the House of Lords. We are also publishing an SME Strategy Paper later this year, which will result in positive and practical support to small and medium size businesses and employers across the UK.

The Secretaries of State for Work and Pensions and Business and Trade have asked Sir Charlie Mayfield to lead an independent Keep Britain Working Review as a part of the plan to Get Britain Working, focusing on what employers and government can do to encourage and support people living with ill-health in work.

On 30 January, the Department for Business and Trade published its annual report and accounts for 2023/2024.

The report states that the “fraud and error incidence rate” in the Bounce Back Loan Scheme (BBLS) has increased from 8.0% at 31 March 2023 to 9.7% at 31 March 2024.

There is no published figure for the expected repayment of loans where fraud is suspected. However, the 6.8% figure quoted in the question represents an estimate of “expected lifetime fraud and error loss”. This is based on the observable behaviour of a statistically representative sample.

The Government will consult extensively on the implementation of the legislation to ensure it works for workers and employers alike, and anticipates this meaning the majority of reforms will take effect no earlier than 2026. Our forthcoming Employment Rights Bill Implementation Roadmap will set out further detail on our plans. The Roadmap will support businesses and other stakeholders to adapt to changes ahead of their commencement.

The Certification Officer (CO) is independent of Government and day-to-day operations are the remit of the Officer. The CO is required by statute to report their activities to the Department for Business and Trade, and ACAS, on an annual basis. This report is made available to Parliament and is deposited by the relevant minister in the House libraries.

The next report is due Summer 2025.

Following the Foreign Secretary’s recent visit to Morocco, both Kingdoms signed several Memoranda of Understanding to drive cross-sectoral partnerships. The Department for Business and Trade and the UK’s Trade Envoy will be working with Morocco to deepen ties, including developing partnerships to support Morocco’s infrastructure programme — ahead of the 2030 Football World Cup — and advancing an Agriculture Review. Bilateral trade has been rising and reached £4.2 billion in 2024. These partnerships will boost trade and investment over the next decade. UK Export Finance offers £5bn finance and can support projects in Western Sahara, subject to meeting UKEF’s due diligence requirements.

Following the Foreign Secretary’s recent visit to Morocco, both Kingdoms signed several Memoranda of Understanding to drive cross-sectoral partnerships. The Department for Business and Trade and the UK’s Trade Envoy will be working with Morocco to deepen ties, including developing partnerships to support Morocco’s infrastructure programme — ahead of the 2030 Football World Cup — and advancing an Agriculture Review. Bilateral trade has been rising and reached £4.2 billion in 2024. These partnerships will boost trade and investment over the next decade. UK Export Finance offers £5bn finance and can support projects in Western Sahara, subject to meeting UKEF’s due diligence requirements.

Following the Foreign Secretary’s recent visit to Morocco, both Kingdoms signed several Memoranda of Understanding to drive cross-sectoral partnerships. The Department for Business and Trade and the UK’s Trade Envoy will be working with Morocco to deepen ties, including developing partnerships to support Morocco’s infrastructure programme — ahead of the 2030 Football World Cup — and advancing an Agriculture Review. Bilateral trade has been rising and reached £4.2 billion in 2024. These partnerships will boost trade and investment over the next decade. UK Export Finance offers £5bn finance and can support projects in Western Sahara, subject to meeting UKEF’s due diligence requirements.

Following the Foreign Secretary’s recent visit to Morocco, both Kingdoms signed several Memoranda of Understanding to drive cross-sectoral partnerships. The Department for Business and Trade and the UK’s Trade Envoy will be working with Morocco to deepen ties, including developing partnerships to support Morocco’s infrastructure programme — ahead of the 2030 Football World Cup — and advancing an Agriculture Review. Bilateral trade has been rising and reached £4.2 billion in 2024. These partnerships will boost trade and investment over the next decade. UK Export Finance offers £5bn finance and can support projects in Western Sahara, subject to meeting UKEF’s due diligence requirements.

Following the Foreign Secretary’s recent visit to Morocco, both Kingdoms signed several Memoranda of Understanding to drive cross-sectoral partnerships. The Department for Business and Trade and the UK’s Trade Envoy will be working with Morocco to deepen ties, including developing partnerships to support Morocco’s infrastructure programme — ahead of the 2030 Football World Cup — and advancing an Agriculture Review. Bilateral trade has been rising and reached £4.2 billion in 2024. These partnerships will boost trade and investment over the next decade. UK Export Finance offers £5bn finance and can support projects in Western Sahara, subject to meeting UKEF’s due diligence requirements.

Following the Foreign Secretary’s recent visit to Morocco, both Kingdoms signed several Memoranda of Understanding to drive cross-sectoral partnerships. The Department for Business and Trade and the UK’s Trade Envoy will be working with Morocco to deepen ties, including developing partnerships to support Morocco’s infrastructure programme — ahead of the 2030 Football World Cup — and advancing an Agriculture Review. Bilateral trade has been rising and reached £4.2 billion in 2024. These partnerships will boost trade and investment over the next decade. UK Export Finance offers £5bn finance and can support projects in Western Sahara, subject to meeting UKEF’s due diligence requirements.