Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to support SMEs to benefit from trade and investment opportunities under the UK-Indonesia Economic Growth Partnership in Buckingham and Bletchley constituency.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
By 2030 Indonesia is predicted to be the 16th largest economy globally, and the 9th largest by 2050. Indonesia’s growing middle class, abundant natural resources and economic potential presents trade and investment opportunities for UK companies. The Economic Growth Partnership provides a framework to support opportunities for UK and Indonesian businesses of all sizes and locations.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what criteria his Department is using to identify regulatory barriers affecting high-growth firms.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade engages regularly with stakeholders, businesses and their representative organisations to identify regulatory barriers affecting businesses, including high-growth firms. Last year we launched a business questionnaire ‘Unlocking Business: reform driven by you’ which gathered feedback from businesses to identify outdated, duplicative and disproportionate regulations and regulatory practices that hinder growth and innovation.
In addition to this, officials also held discussions with businesses in all four nations of the UK across key, growth-driving sectors, to identify other regulatory barriers to growth. Going forward, findings from these will be used to inform our Regulation for Growth programme.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of the UK-Indonesia Economic Growth Partnership on financial services firms seeking market access in Indonesia.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The Economic Growth Partnership is a non-legally binding framework that will deepen cooperation between the UK and Indonesian Governments on areas of interest to our businesses, including in Financial Services.
The Economic Growth Partnership reaffirms the commitment by Indonesia’s Ministry of Finance and HM Treasury to hold a programme of Financial Services Working Groups to deepen dialogue and cooperation on key issues of mutual interest. It complements our support for Indonesia’s application to join the CPTPP.
A new Forum chaired by Indonesian and UK Ministers will monitor progress on activities set out in the Economic Growth Partnership.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to co-ordinate with (a) the Chancellor of the Exchequer and (b) UK regulations on financial services engagement as a result of the UK-Indonesia Economic Growth Partnership.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The Economic Growth Partnership is a non-legally binding framework that will deepen cooperation between the UK and Indonesian Governments on areas of interest to our businesses, including in Financial Services.
The Economic Growth Partnership reaffirms the commitment by Indonesia’s Ministry of Finance and HM Treasury to hold a programme of Financial Services Working Groups to deepen dialogue and cooperation on key issues of mutual interest. It complements our support for Indonesia’s application to join the CPTPP.
A new Forum chaired by Indonesian and UK Ministers will monitor progress on activities set out in the Economic Growth Partnership.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what benchmarks his Department is using to assess progress on regulatory co-operation on financial services under the UK-Indonesia Economic Growth Partnership.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The Economic Growth Partnership is a non-legally binding framework that will deepen cooperation between the UK and Indonesian Governments on areas of interest to our businesses, including in Financial Services.
The Economic Growth Partnership reaffirms the commitment by Indonesia’s Ministry of Finance and HM Treasury to hold a programme of Financial Services Working Groups to deepen dialogue and cooperation on key issues of mutual interest. It complements our support for Indonesia’s application to join the CPTPP.
A new Forum chaired by Indonesian and UK Ministers will monitor progress on activities set out in the Economic Growth Partnership.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what comparative assessment his Department has made of levels of lending to (a) rural and (b) other businesses.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
Bank of England data describes lending to different types of businesses, broken down by business size and sector. It does not provide regional breakdowns, which precludes comparing lending across rural and other businesses.
The British Business Bank (BBB) administers access to finance schemes which support businesses across the UK, including rural businesses.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what progress his Department has made on the draft Audit and Corporate Governance Reform Bill.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department does not now intend to publish a draft Audit and Corporate Governance Reform Bill in this session of Parliament. Both houses of Parliament were informed of this in July 2025. Priority is being given to measures that reduce administrative costs for business, including through the Department’s work on modernising corporate reporting.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what estimate he has made of the average start up costs incurred by first-time business founders in the UK.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The United Kingdom is one of the best places to start a business, boasting one of the highest business start-up rates in the OECD – 18.6 start-ups per 1,000 people in 2022. This compares to an average of 4.5 start-ups per 1,000 people across OECD members.
The British Business Bank supports UK startups through its Start Up Loans scheme, offering fixed interest loans up to £25,000 per business owner.
The British Business bank has published guidance which outlines the typical costs that a UK startup may face. This is available at https://www.startuploans.co.uk/support-and-guidance/business-guidance/finance/what-does-it-cost-to-start-a-business-in-the-uk
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to monitor use of investment dispute resolution mechanisms under the UK–Republic of Korea Free Trade Agreement.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The investment provisions in the UK-Republic of Korea FTA, including a modernised and transparent ISDS mechanism, will protect investors in both markets, ensuring fair, adequate and non-discriminatory treatment for both UK businesses investing in Korea and Korean businesses investing in the UK. This enhances the certainty investors need to make investments, which is crucial for economic growth. We have concluded negotiations but have yet to reach signature, let alone ratification. Once the agreement enters into force, DBT will, in line with standard practice, monitor the utilisation of the FTA by businesses.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of the investment provisions of the UK–Republic of Korea Free Trade Agreement on UK outward investment to the Republic of Korea.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The updated investment provisions in the UK-Republic of Korea FTA will protect investors, ensuring fair, adequate and non-discriminatory treatment for both UK businesses investing in the Republic of Korea and Korean businesses investing in the UK. We believe the commitments will help provide certainty, incentivising investment and driving economic growth. We will publish a full assessment of the economic impact of the UK-Korea FTA when the agreement is formally signed.