Industry and Exports (Financial Assistance) Bill 2024-26

3

Clause 2, page 1, line 8, at end insert—
“(a) In subsection (1), at the beginning insert “Except in respect of exports to which subsections (4B) and (4C) apply,””

1

Clause 2, page 1, line 8, at end insert—
“(ab) In subsection (1), at the end insert “except in respect of exports to which the condition in subsection (4B) is met, where the amount shall not exceed £0””

This amendment is linked to Amendment 2. Together they provide that where the Secretary of State had reason to believe that modern slavery or human trafficking were likely to be present in the supply chain of the business recipient of the goods exported from the United Kingdom, the limit of commitments which could be made under arrangements relating to exports and insurance could not exceed zero.

2

Clause 2, page 1, line 14, at end insert—
“(ca) After subsection (4A) insert—
“(4B) The condition in this subsection is that the Secretary of State has reason to believe that modern slavery or human trafficking are likely to be present in the supply chain of the business recipient of the goods exported from the United Kingdom.””

See explanatory statement for Amendment 1.

4

Clause 2, page 1, line 14, at end insert—
“(ca) After subsection (4A) insert—
“(4B) This subsection applies to exports of goods in respect of which the Secretary of State has reason to believe that the goods exported from the United Kingdom are likely to be re-exported in a way that would, had the goods been exported directly from the United Kingdom, be contrary to any provision of the any Sanctions and Anti-Money Laundering Act 2018, or of any sanctions regulations made under that Act.
(4C) In respect of exports to which subsection (4B) applies, the aggregate amount of the Secretary of State’s commitments at any time under arrangements relating to exports and insurance shall not exceed £0.””

NC2

To move the following Clause—
“Impact of financial assistance limits on the steel industry
(1) No later than one year after this Act is passed, and annually thereafter, the Secretary of State must publish and lay before Parliament a report assessing the impact on the UK steel industry of the increases in the limit on selective financial assistance for industry and the commitment limits on financial assistance for exports and overseas investment for which this Act provides.
(2) A report under this section must include a statement of—
(a) the level of financial assistance provided in each month to UK steel undertakings under section 8 of the Industrial Development Act 1982 (as amended by this Act); and
(b) the number of UK-based full time equivalent jobs in the steel industry which, in the opinion of the Secretary of State, would have been lost had it not been for the increases in the limit on selective financial assistance for industry and the commitment limits on financial assistance for exports and overseas investment for which this Act provides.”

NC3

To move the following Clause—
“Impact of financial assistance limits
Within one year beginning on the date on which this Act is passed, and once every year thereafter, the Secretary of State must publish and lay before Parliament a report assessing the impact of the limits set by this Act on—
(a) gross domestic product (GDP),
(b) export capacity of small and medium-sized enterprises (SMEs), and
(c) volume of trade between the United Kingdom and the European Union.”

This new clause would require the Secretary of State to publish an annual report on the impact of the limits set by this Act on GDP, SMEs, and trade between the United Kingdom and the European Union.

NC1

Impact of financial assistance limits Within one year beginning on the date on which this Act is passed, and once every year thereafter, the Secretary of State must publish and lay before Parliament a report assessing the impact of the limits set by sections (1) and (2) of this Act on— (a) England, (b) Northern Ireland, (c) Scotland, and (d) Wales.