Asked by: Bill Wiggin (Conservative - North Herefordshire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what estimate she has made of the number of road haulage businesses entering insolvency in 2023; and what steps he is taking to support that industry.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
In 2023 in the UK, 494 companies with a SIC code 49410 - Freight Transport by Road - entered insolvency.
At Autumn Statement 2023, the Government announced continuing support for haulage companies, freezing HGV Vehicle Excise Duty and the HGV Levy in 2024/25. This forms part of a package of support for hauliers, with the freezing of Fuel Duty announced at Spring Budget 2023, saving over £4,300 for the most common types of HGV in 2023/24.
The Department for Education is also offering high-quality apprenticeships and Skills Bootcamps, supporting the haulage sector to develop the skilled workforces it needs.
Asked by: Bill Wiggin (Conservative - North Herefordshire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if she will commission research into the potential benefits to the economy of cannabinoid-based products for medicinal use; and if she will make a statement.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The department has no plans to assess the impact of the medical cannabis industry on the economy. Data is annually published on the impact on the economy and employment of the wider Life Sciences sector in the Bioscience and health technology sector statistics. This includes analysis of the bio-pharmaceuticals sector of which the medical cannabis industry is a subsector.
Asked by: Bill Wiggin (Conservative - North Herefordshire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment she has made of the impact of exporting medical cannabis on the UK economy; and if she will make a statement.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
Life Sciences is one the UK’s top exporting sectors, with exports valued at £28.1 billion in 2022. No assessment has currently been made by the department of the impact of exporting medicinal cannabis on the UK economy. The department supports UK manufacturers of medical cannabis who have obtained a controlled drug licence from the Home Office and relevant licences from MHRA; and where the use of medicinal cannabis is both (a) legal in the destination market and (b) only for medical or scientific purposes.
Asked by: Bill Wiggin (Conservative - North Herefordshire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment her Department has made of the growth potential for the cannabinoid-based medicines industry; and if she will make a statement.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
No assessment has been made on the growth potential for the cannabinoid-based medicine industry which also creates opportunities for the agri-tech sector. The department will continue to deliver against the priority sub-sectors outlined in the Life Science Vision, through our role in pursuing and landing inward investment, enabling exports, attracting global talent and capital, and leading on trade policy and defending free trade.