Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will provide indemnities to automotive companies for the period following the announcement of the UK-US trade deal but prior to the implementation of lower tariff rates.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
The deal agreed on 8 May will protect jobs in the automotive and steel industries. Talks with the US are ongoing to progress implementation of the General Terms of the UK-US Economic Prosperity Deal and ensure that UK businesses feel the benefits as soon as possible.
The US has committed to removing Section 232 tariffs on steel. In addition, it has pledged to reduce tariffs on automotives faced by UK exporters by developing a quota system – which will save thousands of jobs in the UK.
We remain committed to working in close partnership with industry to support their needs and ensure that the interests of British businesses are at the forefront of our engagement with the US.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will provide indemnities to steel companies for the period following the announcement of the UK-US trade deal but prior to the implementation of lower tariff rates.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
The deal agreed on 8 May will protect jobs in the automotive and steel industries. Talks with the US are ongoing to progress implementation of the General Terms of the UK-US Economic Prosperity Deal and ensure that UK businesses feel the benefits as soon as possible.
The US has committed to removing Section 232 tariffs on steel. In addition, it has pledged to reduce tariffs on automotives faced by UK exporters by developing a quota system – which will save thousands of jobs in the UK.
We remain committed to working in close partnership with industry to support their needs and ensure that the interests of British businesses are at the forefront of our engagement with the US.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to the UK-US trade agreement, what steps he plans to take to manage the allocation of the 100,000 vehicle quota.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
UK imports to the US will now face a lower tariff of 10% for a quota of 100,000 vehicles. The UK exports around 100,000 cars a year to the US - so this quota will ensure most cars entering the US will do so at the preferential rate.
We continue to work closely with both UK manufacturers and the US administration as we work through the implementation of tariff relief. Both DBT Secretary of State and Minister Jones have met with industry representatives to discuss development of the quota system. We will provide further detail in due course.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how many UK-based start-ups raised venture-capital rounds that included at least one overseas investor in each of the last five years; and what the total capital raised in those rounds was in each year.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
According to figures recently published by the BVCA, UK businesses raised £9bn of venture and growth capital in 2024 - a 12.5% rise compared to 2023. This reflects the UK’s position as Europe’s leading hub for Venture Capital, attracting investment into our world class technology and innovation.
The Government has introduced a range of new measures to unlock more later stage capital from domestic sources, such as the Mansion House reforms and the British Growth Partnership. This will ensure that the British economy benefits even more from its thriving venture capital ecosystem.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what representations the Minister for Investment has received on the decision to end the remittance basis of taxation.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Minister for Investment has not had any specific meetings on the topic of changes to the remittance basis of taxation.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what representations his Department has made to the Office for National Statistics on the economic classification assessment of British Steel.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
My department is currently working closely with both ONS and HMT to determine the classification of BSL. My department's current expectation is for BSL to be classified as a public corporation and that the situation will remain under review by ONS.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, when he plans to respond to Question (a) 47358, (b) 47359, (c) 47360, (d) 47361 and (e) 47362 tabled by the hon. Member for Arundel and South Downs on 23 April 2024.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
A response was published on 12th May 2025 to Questions 47358, 47359, 47360, 47361 and 47362.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what discussions (a) he and (b) Ministers in his Department have had with the Chancellor of the Exchequer on the potential impact of the use of powers in the Steel Industry (Special Measures) Act 2025 on Government fiscal policies.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Steel Industry (Special Measures) Act 2025 gives Government the power to direct British Steel’s board and workforce, ensure they get paid, and order the raw materials to keep the blast furnaces running in Scunthorpe. We will report regularly to Parliament on the use of the Act.
The decision to introduce this legislation had collective agreement. Discussions are ongoing to determine the potential impact to public purse, but the funding required for British Steel will come out of existing budgets and there will be no changes to the Government's fiscal rules.
The Department for Business & Trade’s accounts for 2025/26 will reflect the financial support that the department has given to British Steel.
We will publish the initial impact assessment in due course, including classification considerations.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether he has had discussions with the Office for National Statistics on initiating a reassessment of the public sector classification of British Steel.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Steel Industry (Special Measures) Act 2025 gives Government the power to direct British Steel’s board and workforce, ensure they get paid, and order the raw materials to keep the blast furnaces running in Scunthorpe. We will report regularly to Parliament on the use of the Act.
The decision to introduce this legislation had collective agreement. Discussions are ongoing to determine the potential impact to public purse, but the funding required for British Steel will come out of existing budgets and there will be no changes to the Government's fiscal rules.
The Department for Business & Trade’s accounts for 2025/26 will reflect the financial support that the department has given to British Steel.
We will publish the initial impact assessment in due course, including classification considerations.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will publish a regulatory impact assessment for the Steel Industry (Special Measures) Act 2025.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Steel Industry (Special Measures) Act 2025 gives Government the power to direct British Steel’s board and workforce, ensure they get paid, and order the raw materials to keep the blast furnaces running in Scunthorpe. We will report regularly to Parliament on the use of the Act.
The decision to introduce this legislation had collective agreement. Discussions are ongoing to determine the potential impact to public purse, but the funding required for British Steel will come out of existing budgets and there will be no changes to the Government's fiscal rules.
The Department for Business & Trade’s accounts for 2025/26 will reflect the financial support that the department has given to British Steel.
We will publish the initial impact assessment in due course, including classification considerations.