Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the effectiveness of the structural alignment between his Department's budgeting frameworks and the delivery goals of the Modern Industrial Strategy.

The Modern Industrial Strategy is the Government’s long-term framework to increase business investment, unlock productivity growth, support high-quality jobs and drive economic growth across the UK.

The 2025 Spending Review allocated multiyear resource and capital budgets to align with the Government’s growth priorities. For instance, the Industrial Strategy is underpinned by billions of public investment in innovation and access to finance, including public R&D funding rising to £22.6bn by 2029-30, an increase in British Business Bank capacity to £25.6bn, targeted support for priority sectors including advanced manufacturing with £4bn and £2.3bn provided over ten years for Drive 35 and the Aerospace Technology Institute, respectively, and a £400m UK Defence Innovation programme.