Question to the Department for Environment, Food and Rural Affairs:

To ask the Secretary of State for Environment, Food and Rural Affairs, what recent assessment she has made of the potential for private investment in the circular economy.

This Government’s commitment to transitioning towards a circular economy builds a path to economic growth, progress towards Net Zero, restoration of nature, and creates a more resilient economy with investment in green jobs and vital infrastructure. The UK’s existing circular industries deliver £67 billion to the economy, and industry estimates indicate that the ongoing reforms in the packaging sector alone have the potential to support an estimated 21,000 new jobs and stimulate over £10 billion of investment in recycling capability over the next ten years.

We will publish a plan for delivering the Government’s circular economy ambitions in the coming months and the action plan will set out the biggest opportunities to support growth in sectors right across the economy, including: agri-food; built environment; chemicals and plastics; electrical and electronic equipment; textiles; and transport. We also convened a Circular Economy Taskforce of experts to help us with this – they have undertaken extensive engagement with industry leaders, trade associations, and other key stakeholders to ensure that the needs and opportunities for all are considered.