Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps he is taking to encourage investment in businesses located in economically disadvantaged regions.

84% of businesses supported by the British Business Bank were outside London in 2024/25. The expected boost to Gross Value Added expected from those businesses supported in 2024/25 is more than £100 million in every UK nation and region.

Their £1.6 billion Nations and Regions Investment Funds programme provides debt and equity finance to businesses across Northern Ireland, Scotland, Wales and three regions of England that would otherwise struggle to get it. The programme is designed to ensure funds are distributed across the whole area, not just finance hotspots.

Two new funds are due to launch later this year, in South and East England.