Business: Investment

(asked on 17th January 2022) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the implications for its policies of the levels of business investment in Q3 of 2021 reported by the Office for National Statistics; and what steps his Department is taking to support business investment.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 25th January 2022

The ONS data to which the member is referring shows at 2.6% increase in business investment versus the same quarter the previous year, which shows that the Government’s approach is delivering a strong economic recovery.

BEIS works to support business investment through a range of different measures including several sector focused funds, such as the £1.4bn Global Britain Investment Fund, which provides grant support to businesses within the automotive, life sciences and offshore wind sectors. The department has laid out a strategy to deliver Net Zero by 2050, which includes leveraging £90bn in private investment. At the last Budget and Spending Review the Government made a £1.6 billion commitment to a new generation of regional funds via the British Business Bank’s programmes. The Government will also provide funding for 33,000 Start Up Loans over the next three years.

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