Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether she has made an assessment of the potential impact of the Spring Budget 2023, HC1183, published on 15 March 2023, on implementing the recommendations set out by the Taskforce on Innovation, Growth and Regulatory Reform in its independent report, published on 16 June 2021.

I can confirm that my Department will be leading on implementing the recommendations of the Taskforce on Innovation, Growth and Regulatory Reform report following the recent Machinery of Government change. Working with my colleagues, particularly the Chancellor, we have already delivered on key recommendations - such as offshore energy network coordination, costs and charges reports in the Markets in Financial Instruments Directive II (MiFID II) and clinical trials approval. I will continue working with Cabinet colleagues on the delivery of the remaining recommendations. This will include building on the announcements made in the Spring Budget.