Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of the UK’s proposed regulatory framework for cryptoassets compared with those of other major jurisdictions, including the EU; and what steps he is taking to ensure the UK attracts digital-assets investment and innovation.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government has worked closely with the Financial Conduct Authority (FCA) to deliver a comprehensive and internationally competitive UK regulatory regime for cryptoassets. The Government’s objective is to ensure the regime appropriately balances the protection of consumers with a regulatory environment that supports innovation and growth.
The regime will come into force in October 2027 and includes transitional and savings provisions to support an orderly transition to the new regulatory framework. The FCA’s authorisation gateway opened on 30 September 2026, and the FCA is providing various forms of support for firms through the authorisation process. This includes offering a free, optional pre-application meeting to discuss a firm’s business model, the authorisation process, and the FCA’s expectations.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking with the Financial Conduct Authority to implement the UK’s regulatory regime for cryptoassets; and what support and transitional arrangements will be provided to firms preparing for authorisation.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government has worked closely with the Financial Conduct Authority (FCA) to deliver a comprehensive and internationally competitive UK regulatory regime for cryptoassets. The Government’s objective is to ensure the regime appropriately balances the protection of consumers with a regulatory environment that supports innovation and growth.
The regime will come into force in October 2027 and includes transitional and savings provisions to support an orderly transition to the new regulatory framework. The FCA’s authorisation gateway opened on 30 September 2026, and the FCA is providing various forms of support for firms through the authorisation process. This includes offering a free, optional pre-application meeting to discuss a firm’s business model, the authorisation process, and the FCA’s expectations.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Business, Innovation, Science and Trade:
To ask the Secretary of State for Business, Innovation, Science and Trade, what funding is targeted at smaller Tier 2/3 automotive suppliers and whether his Department holds data on take up of available funding and support by these suppliers.
Answered by Blair McDougall - Parliamentary Under-Secretary of State (Department for Business, Innovation, Science and Trade) (Jointly with the Department for Energy Security and Net Zero)
Through DRIVE35, the Government is providing £4 billion of capital and research and development funding to 2035 to support the transition to zero-emission vehicle manufacturing and its supply chain. Funding is available to businesses of all sizes, including smaller Tier 2 and Tier 3 suppliers, across DRIVE35’s Innovation, Scale-Up and Transformation pillars.
As part of DRIVE35, the £100 million Supplier Readiness and Transformation (SRT) programme provides targeted capital support to automotive suppliers in the West Midlands and North East, helping businesses transition to EV manufacturing and strengthen their competitiveness.
The Department and its delivery partners monitor the delivery and the reach of DRIVE35 support. However, data is not routinely held or reported comprehensively by automotive supply-chain tier, and many businesses operate across different tiers or supply multiple sectors.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Business, Innovation, Science and Trade:
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of the potential risks associated with the Tier 2/3 automotive supply chain.
Answered by Blair McDougall - Parliamentary Under-Secretary of State (Department for Business, Innovation, Science and Trade) (Jointly with the Department for Energy Security and Net Zero)
The Department routinely monitors the health and resilience of the UK automotive supply chain, including Tier 2 and Tier 3 suppliers, working closely with industry stakeholders, including through the Automotive Council. The Government recognises the importance of strengthening the resilience and competitiveness of the automotive supply chain as the sector transitions to zero-emission vehicles. Our modern Industrial Strategy launched DRIVE35, the largest government investment in the automotive industry of the post-war era, providing £4 billion of support to 2035 for the transition to zero-emission vehicle manufacturing, including across the automotive supply chain.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Business, Innovation, Science and Trade:
To ask the Secretary of State for Business, Innovation, Science and Trade, what fiscal steps his Department is considering to help prevent the export of high-quality aluminium scrap and support its retention within UK and European recycling markets to reduce costs for domestic manufacturers.
Answered by Blair McDougall - Parliamentary Under-Secretary of State (Department for Business, Innovation, Science and Trade) (Jointly with the Department for Energy Security and Net Zero)
The Government recognises the importance of high quality aluminium scrap to UK manufacturing, circularity and supply chain resilience. Through the Metals Circularity Group, the Department is working with industry, academia, regulators and other government departments, including HM Treasury and the Department for Environment, Food and Rural Affairs, to gather evidence on the challenges facing UK scrap markets. This includes topics such as levels of scrap exports, domestic processing capacity, and barriers to investment and competitiveness. The Group's work will inform the development of policy recommendations to Ministers.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, when he will publish the outcome of Hydrogen Allocation Round 2.
Answered by Michael Shanks - Minister of State (Department for Energy Security and Net Zero)
We are working hard across government to start the Invite to Offer stage of the second Hydrogen Allocation Round (HAR2) as soon as possible and will be in touch with projects when this commences. Contract awards for successful projects will follow shortly afterwards.
We understand that many projects are at critical stages, and that certainty is important to support business planning, resource management and engagement with third parties.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of whether current Gate 2 electricity connection timelines are compatible with the Government’s objectives for delivering AI Growth Zones at pace.
Answered by Michael Shanks - Minister of State (Department for Energy Security and Net Zero)
Government fully recognises the impact of connection delays on delivery of its objectives and is working closely with Ofgem, NESO and network companies to develop and deliver a coordinated package of demand-side reforms to release blocked network capacity and accelerate connections for projects that reflect Government’s top strategic priorities, including AI Growth Zones.
Government recently consulted on key elements of this package of reforms and will publish its response in due course.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, whether electricity connection prioritisation for AI Growth Zones is being considered as part of wider grid reform and connection queue management.
Answered by Michael Shanks - Minister of State (Department for Energy Security and Net Zero)
As announced in the ‘Delivering AI Growth Zones’ publication in November 2025, new measures to prioritise electricity connections for strategic demand projects will be used to support AI Growth Zones.
Government recently consulted on the detail of these measures and will publish its response in due course.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the level of potential risk that current electricity connection processes could delay the delivery of AI Growth Zones.
Answered by Michael Shanks - Minister of State (Department for Energy Security and Net Zero)
Government fully recognises that the process for electricity demand connections requires reform and is working closely with Ofgem, NESO and network companies to develop and deliver a coordinated package of measures to ensure the connections process supports efficient and fair connections for all users, release blocked capacity, and accelerate connections for projects that reflect Government’s top strategic priorities, including AI Growth Zones.
Government recently consulted on key elements of this package of reforms and will publish its response in due course.
Asked by: Gurinder Singh Josan (Labour - Smethwick)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, whether the Midlands has been considered as a potential location for an AI Growth Zone.
Answered by Michael Shanks - Minister of State (Department for Energy Security and Net Zero)
The Government has launched five AI Growth Zones in industrial heartlands across the country, which will create 15,000 jobs and unlock £28 billion of investment. All areas of the country are being considered for further AI Growth Zones, including the Midlands. The application process to become an AI Growth Zone remains open.