Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to Prime Minister’s press release entitled Prime Minister unlocks new opportunities for British businesses in China, published on 29 January 2026, when the joint feasibility study on a UK-China trade in services agreement is expected to conclude.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The joint feasibility study for a UK-China Trade in Services Agreement is an exploratory stage; it’s not a commitment to negotiate an agreement. The study is intended to identify areas of shared interest and assess the potential benefits and challenges involved in a potential bilateral Trade in Services Agreement.
Should both parties find sufficient common ground, the process may then proceed to formal negotiations, based on mutual agreement. The timing of the conclusion of the feasibility study and any potential future negotiations would be determined through further technical discussions between the UK and China.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, pursuant to the Prime Minister’s press release entitled ‘Prime Minister unlocks new opportunities for British businesses in China’ published on 29 January 2026, what steps are being taken to improve recognition of UK professional qualifications in China.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The UK-China Bilateral Services Partnership (BSP) Memorandum of Understanding was signed on Thursday 29 January between the Secretary of State for Business and Trade, Peter Kyle, and the Minister for Commerce, Wang Wentao.
The BSP represents a commitment between the UK and China to deepen practical government cooperation and support in growth sectors such as financial and professional services where the recognition of professional qualifications is critical for trade.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to his Department’s press release entitled UK lenders step up with £11 billion push to back British businesses, published on 26 January 2026, whether the £11 billion lending commitment represents new lending or includes existing lending facilities repackaged under this agreement.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The lending commitment facility is not time limited.
We have not made a formal assessment of how much of the lending commitment is expected to be drawn down in each financial year. The support that the participating banks can offer to businesses hoping to export is not restricted to this lending package.
The £11 billion commitment represents new lending, and does not included facilities extended before the announcement
Businesses can apply for a lending facility directly with the participant banks. They can start by speaking to their high street lender or their local Export Finance Manager (EFM). The EFMs are UKEF’s regional representatives who provide local points of contact for exporters and businesses with export potential. Contact details for the EFMs around the whole of the UK can be found at: Find an Export Finance Manager - GOV.UK.
Repayment of the loans will be managed by the respective banks, applying their regular criteria and processes. UKEF has robust legal agreements in place which set requirements regarding monitoring of potential defaults and making relevant recoveries.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to his Department’s press release entitled UK lenders step up with £11 billion push to back British businesses, published on 26 January 2026, how much of the £11 billion lending package is expected to be drawn down in each financial year.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The lending commitment facility is not time limited.
We have not made a formal assessment of how much of the lending commitment is expected to be drawn down in each financial year. The support that the participating banks can offer to businesses hoping to export is not restricted to this lending package.
The £11 billion commitment represents new lending, and does not included facilities extended before the announcement
Businesses can apply for a lending facility directly with the participant banks. They can start by speaking to their high street lender or their local Export Finance Manager (EFM). The EFMs are UKEF’s regional representatives who provide local points of contact for exporters and businesses with export potential. Contact details for the EFMs around the whole of the UK can be found at: Find an Export Finance Manager - GOV.UK.
Repayment of the loans will be managed by the respective banks, applying their regular criteria and processes. UKEF has robust legal agreements in place which set requirements regarding monitoring of potential defaults and making relevant recoveries.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to his Department’s press release entitled UK lenders step up with £11 billion push to back British businesses, published on 26 January 2026, over what time period the £11 billion lending commitment will be made available to businesses.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The lending commitment facility is not time limited.
We have not made a formal assessment of how much of the lending commitment is expected to be drawn down in each financial year. The support that the participating banks can offer to businesses hoping to export is not restricted to this lending package.
The £11 billion commitment represents new lending, and does not included facilities extended before the announcement
Businesses can apply for a lending facility directly with the participant banks. They can start by speaking to their high street lender or their local Export Finance Manager (EFM). The EFMs are UKEF’s regional representatives who provide local points of contact for exporters and businesses with export potential. Contact details for the EFMs around the whole of the UK can be found at: Find an Export Finance Manager - GOV.UK.
Repayment of the loans will be managed by the respective banks, applying their regular criteria and processes. UKEF has robust legal agreements in place which set requirements regarding monitoring of potential defaults and making relevant recoveries.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what criteria is used to assess the suitability of publicly-funded manufacturing contracts allocated to companies.
Answered by Chris McDonald - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The Procurement Act sets out the process that contracting authorities follow when assessing the suitability of suppliers for public contracts, including their capacity and capability to deliver. This approach is supported by guidance in the Sourcing Playbook.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, whether he has taken steps to ensure that public investment in Kraken Technologies cannot be used to facilitate dividend payments by Octopus Energy.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.
The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, what assessment he has made of the potential impact of investment in Kraken Technologies on competition within the UK energy software market.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.
The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, whether Octopus Energy’s compliance with capital requirements was considered when approving investment in Kraken Technologies.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.
The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to the Department for Business and Trade’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, whether he made an assessment of the adequacy of the availability of private‑sector investment for Kraken Technologies before providing funding.
Answered by Blair McDougall - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.
The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.