Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to paragraph 5.30 of the Budget Red Book 2026, published on 28 October 2026, whether the British Business Bank and the National Wealth Fund will require businesses receiving defence-related funding under measures announced in the Budget to exclude companies based in the People’s Republic of China from their supply chains.

The National Wealth Fund (NWF) and British Business Bank (BBB) are operationally independent and assess investment opportunities on a case-by-case basis in line with their investment criteria and due diligence processes. The NWF’s due diligence considers supply-chain exposure to Chinese suppliers and seeks alternatives where appropriate. The BBB operates in line with its Investment Strategy and Banking Strategy, published in its five-year plan in November 2025.