Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps his Department is taking to help ensure that compliance requirements relating to sanctions, export controls and anti-money-laundering rules do not have a disproportionate effect on defence SMEs.

DBT operates a clear, proportionate, and robust system of export controls and sanctions, promoting both UK prosperity and national and global security. DBT supports all exporters with their compliance obligations through a suite of regularly updated guidance, coupled with stakeholder outreach. This is intended to make our regulations less costly and easier to implement.

Access to finance can be a significant issue for defence firms, particularly SMEs. HMG is actively engaging with banks to ensure they understand the importance of the defence sector. Through the Defence Finance and Investment Strategy, MOD is exploring how it can improve the investability of the sector, including by considering the role of the MOD relative to compliance checks carried out by the investor community.