Department for Business and Trade

The Government’s 2025 Critical Minerals Strategy sets out clear steps to expand domestic processing and recycling. We are harnessing UK strengths in midstream processing and advanced recycling, supported by strong research institutions and government-backed financing such as DRIVE35, the National Wealth Fund and UK Export Finance.

The Strategy also includes an ambition for 20% of UK demand to be met through recycling by 2035. Government intends to publish the Circular Economy Growth Plan soon to further strengthen circularity and recovery.

New funding of up to £50 million will be made available later this year to support critical mineral projects, including projects in midstream processing and recycling. Further detail will be announced later this year.

We are establishing a new Supply Chain Centre within the Department for Business and Trade which will lead the government's efforts to strengthen the resilience of supply chains critical to the UK's security and prosperity. The Supply Chain Centre will collaborate with industry to ensure the UK is prepared for future disruptions.

The Department has also brought its SME support into the Business Growth Service, providing UK businesses with the tools they need to start, scale and compete globally through business.gov.uk.

Our Industrial Strategy focuses on boosting investment, driving economic growth and supporting high quality jobs, while enhancing economic security through stronger capability, diversified suppliers and strategic international partnerships.

As of 27 February 2026, approximately £1.475 billion has been paid to over 11,500 claimants across the Horizon redress schemes. The Department publishes monthly reports updating this figure. Total spend to date and future commitments for victims of the Horizon scandal are estimated at £2.3 billion. In addition, over £1.6 million has been paid to claimants under the Capture redress scheme since its launch on 29 October 2025

The Government has not set a cap on either the Horizon or Capture redress schemes. The final cost will depend on how many victims come forward and the specific circumstances of their claims.

• According to figures published by the Spanish Chamber of Commerce in the UK, the UK was the second largest destination for Spanish foreign direct investment stock at the end of 2023, supporting over 140,000 jobs in the UK in 2023.
• During her visit to Madrid, the Chancellor welcomed a £240m investment from Exolum while Indra will create 600 jobs in the UK after being awarded a contract by Transport for London. Spanish bank Santander has also developed its UK headquarters in Milton Keynes, where it employs thousands of people.

The Government continues to highlight concerns about the erosion of rights and freedoms in Hong Kong in public statements, and monitors associated risks through wider human‑rights and supply‑chain due‑diligence policies. UK businesses are guided by NCSC supply‑chain security principles to identify and manage risks in complex supply chains. The UK operates a comprehensive regulatory framework for strategic export controls, which prevents the export of goods where there is a risk to domestic security, international security, or human rights.

We continue to engage with industry and other stakeholders as we move into the delivery phase of the steel strategy, following its publication on the 19 March. This includes work to implement the new trade defence measure ahead of the 1 July. The publication of any further information will be considered as this progresses.

The steel strategy reaffirms the government’s commitment to spend up to £2.5 billion on the steel sector. Building on the direct support provided so far, the National Wealth Fund will be the main mechanism for providing finance for investment in the steel sector. It is actively seeking engagement with steel firms for strong, investible projects.

Allocations are subject to the usual government approvals processes and ministerial decisions. All support for the steel sector has been drawn from existing government budgets, with no additional borrowing or trade-offs required.

We continue to engage with industry and other stakeholders as we move into the delivery phase of the steel strategy, following its publication on the 19 March. This includes work to implement the new trade defence measure ahead of the 1 July. The publication of any further information will be considered as this progresses.

The steel strategy reaffirms the government’s commitment to spend up to £2.5 billion on the steel sector. Building on the direct support provided so far, the National Wealth Fund will be the main mechanism for providing finance for investment in the steel sector. It is actively seeking engagement with steel firms for strong, investible projects.

Allocations are subject to the usual government approvals processes and ministerial decisions. All support for the steel sector has been drawn from existing government budgets, with no additional borrowing or trade-offs required.

We continue to engage with industry and other stakeholders as we move into the delivery phase of the steel strategy, following its publication on the 19 March. This includes work to implement the new trade defence measure ahead of the 1 July. The publication of any further information will be considered as this progresses.

The steel strategy reaffirms the government’s commitment to spend up to £2.5 billion on the steel sector. Building on the direct support provided so far, the National Wealth Fund will be the main mechanism for providing finance for investment in the steel sector. It is actively seeking engagement with steel firms for strong, investible projects.

Allocations are subject to the usual government approvals processes and ministerial decisions. All support for the steel sector has been drawn from existing government budgets, with no additional borrowing or trade-offs required.

Banking Framework 4 increases remuneration rates for cash services. Increases will vary by branch activity. Post Office has also committed to improving remuneration through its Transformation plan, which includes cost saving investments (such as automation) related to the implementation of the Banking Framework.

Banking Framework 4 secures Post Office’s important role in providing free-to-access cash and banking services until December 2030. As set out in the Government response to the Green Paper, there was a constructive joint discussion between government, the Post Office and the banking sector in January 2026, where several areas of mutual interest were discussed including additional banking services.

The Government’s Green Paper consultation confirmed that the public, especially rural communities and small businesses, rely on their local Post Office for essential services. We are therefore committed to retaining the 11,500‑branch minimum network and existing access criteria to ensure nationwide access to essential services.

In the Green Paper consultation response, the Government explicitly confirms that all six Access Criteria will remain in place, and performance will be monitored by the Government through regular reporting and Post Office’s published annual Network Report.

In March 2025 Jingye rejected an offer of substantial financial support to convert the Scunthorpe steelworks to electric arc furnaces. More recently we have been in discussions with Jingye to find a pragmatic, realistic solution for the future of British Steel.

British Steel remains owned by Jingye and HM Government’s powers to intervene under the Steel Industry (Special Measures) Act 2025 are designed to maintain steelmaking and avoid a disorderly closure of the blast furnaces. We are seeking to resolve the future of British Steel and our long-term aspiration for the UK steel sector will require co-investment with the private sector, as appropriate.

In March 2025 Jingye rejected an offer of substantial financial support to convert the Scunthorpe steelworks to electric arc furnaces. More recently we have been in discussions with Jingye to find a pragmatic, realistic solution for the future of British Steel.

British Steel remains owned by Jingye and HM Government’s powers to intervene under the Steel Industry (Special Measures) Act 2025 are designed to maintain steelmaking and avoid a disorderly closure of the blast furnaces. We are seeking to resolve the future of British Steel and our long-term aspiration for the UK steel sector will require co-investment with the private sector, as appropriate.

Post Office Limited is using the competitive flexible process (pursuant to the Procurement Act 2023) in order to select suppliers. Post Office expect by Summer 2026 to award a contract for a new supplier to replace Fujitsu and all parties remain committed to seeing that happen as soon as possible.

The Government acknowledges the necessity for maintained oversight and is taking appropriate action to ensure that POL can successfully transition to a new IT system which is robust and fit-for-purpose.

Fujitsu has announced that it will not bid for further Government business unless specifically asked to do so by Government. Such requests are made only where Fujitsu’s involvement is necessary to maintain critical public services.

The government is committed to supporting UK SMEs, including independent gyms in the East of England, through the Small Business Plan - the most comprehensive package of support for SMEs in a generation.

This includes the most significant legislative reforms in 25 years to tackle late payments; unlocking billions of pounds in finance to support start-ups; removing unnecessary red tape; revitalising High Streets and boosting Digital and AI Adoption among small businesses.

The Business Growth Service helps SMEs access tailored support at every stage of their growth journey. The South Midlands Growth Hub offers free accessible business advice and support at all stages of a business’s journey.

The UK’s steel industry is fundamental to UK manufacturing, the UK’s critical national infrastructure and defence. Steel overcapacity is distorting markets, artificially driving down prices and threatening the viability of our already fragile domestic steelmaking sector – which has more than halved in the last decade.

Our aim is to strike the right balance: while the measure aims to ensure continued viability of UK steel production, we have considered the impact of supply for downstream sectors in the design of this measure.

This Government is aware of the impact of gas costs on energy-intensive industries and that current energy support schemes only subsidise the cost of electricity for eligible electricity-intensive businesses. My officials regularly engage with trade associations and industry groups, including the Energy Intensive Users Group, to ensure that their concerns are heard and inform potential policy support for gas costs in future.

The Department plans to provide up to £180 million of funding through a new network subsidy to Post Office over the next three financial years. The entirety of this funding is new, with the specific allocation of funding across the network being an operational matter for the Post Office.

This funding will support with the operational costs of delivering government policy, which requires Post Office to deliver essential services across specific access criteria. This includes the requirement to ensure that 99% of the UK population is within 3 miles of their nearest post office outlet.

The Framework Document between the Department and POL sets out that network subsidy is ringfenced for the purposes of delivering government policy via the branch network.

The chemicals sector underpins almost all other manufacturing in the UK and is fundamental to maximising growth. It helps stimulate productivity across the economy to drive forward the government’s growth mission. This is why chemicals was identified as a foundational industry within the Industrial Strategy. Our modern Industrial Strategy will implement targeted policy interventions to drive long-term sustainable, inclusive and secure growth.

Government works closely with industry to ensure the sector remains competitive and resilient. This includes supporting innovation, improving productivity, promoting exports and inward investment, as well as ensuring the UK has the skills needed to meet future demand.

On 24 March we published our response to the Late Payments Consultation, outlining legislative measures we will introduce to tackle the scourge of late payments which costs the UK economy £11 billion each year and leads to the closure of 38 businesses every day. In line with the Better Regulation Framework, we published an Impact Assessment that considers how our measures could impact businesses of all different sizes. We have carefully designed measures to tackle late payments whilst supporting UK competitiveness, including allowing an exemption from maximum payment terms for contracts where both parties are large companies.

HMG recognises the importance of Green Corridors in demonstrating clean maritime technologies and laying the foundation for widespread decarbonisation. We are focussed on delivering this change through the International Maritime Organization and domestic action as set out in the Maritime Decarbonisation Strategy. In doing so, we expect this to incentivise and support industry to deliver Green Corridors from the UK and globally. Brazil is an important partner on climate and decarbonisation: we have several bilateral initiatives on green finance, some of which sit under the UK PACT (Partnering for Accelerated Climate Transitions) programme.

UK Export Finance (UKEF) does not have a marketing budget specifically related to promoting UK businesses’ engagement in the Saudi or other individual markets.

Details of UKEF’s overall expenditure on marketing for the current financial year will be included in the department’s annual report and accounts.

• Our bilateral cooperation with Spain is creating opportunities for British businesses, including the Spanish government’s decision to exempt British nationals from a visa requirement for the provision of services in stays of less than ninety days. This could be worth around £250 million in additional exports to UK businesses over a five-year period. This will benefit UK businesses of all sizes exporting to Spain.
• Our cooperation with the EU is also reducing barriers to trade. An SPS Agreement with the EU will make agrifood trade easier, cutting costs and red tape for British producers and retailers, including small and medium enterprises that currently trade or want to trade with Spain and other EU countries.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

As an integral part of the UK's growth objective, the Government is making it simpler and easier for business to make long term investment into the UK, including Nigerian inward investment.

DBT routinely publishes official statistics on foreign direct investment in the UK on the GOV.UK website, including the number of jobs involved.

Steel is essential for a modern economy such as the UK, underpinning key industries from construction to advanced manufacturing and defence. The trade measure introduced on 19 March aims to address critical global steel overcapacity challenges that threaten the viability of UK steelmaking, which supports approximately 40,000 direct jobs and 61,000 upstream supply chain jobs. From 1 July 2026, reduced import quotas with 50% tariffs on imports once quotas are exceeded will protect domestic production capacity, helping secure these high-quality UK steelmaking jobs that pay on average 32% above local wages.

From 1 July 2026, steel import quotas will be reduced by 60% compared with the steel safeguard, with a 50% tariff on imports exceeding these levels.

The purpose of the trade measure is not to raise tariff revenue, and therefore we have not made any estimates. Instead, it aims to protect UK steel-making, which is essential for our critical national infrastructure and defence. The Steel Strategy aims to restore us to a balanced approach between UK demand being met through imports and through domestic production.

The Government is committed to ensuring markets work well for consumers and businesses. As the UK’s lead consumer and competition authority, the Competition and Markets Authority (CMA) has a statutory duty to promote competition for the benefit of consumers. It is the role of the CMA to examine potential breaches of competition law, including abuse of a dominant position, and investigate markets if it thinks there are competition or consumer problems. As an independent authority, the CMA has discretion to investigate competition matters which, according to its prioritisation principles, it considers most appropriate.

The Government is taking decisive action to support pubs and the wider hospitality sector. Following the Budget, we announced an additional 15% cut for pubs in England alongside a two‑year real‑terms freeze, building on wider reforms to business rates for retail, hospitality and leisure properties.

We recognise that 2026 revaluation has increased bills for some businesses, which is why we are providing £4.3 billion over three years in transitional relief to support ratepayers facing higher bills at revaluation and protect businesses from sharp increases. We are also launching a review of how pubs are valued for business rates, with changes intended to take effect from the next revaluation.

Alongside this, we have expanded licencing responsibilities, doubled the Hospitality Support Fund to £10 million, and will bring forward a new High Streets Strategy later this year to help reinvigorate local communities.

The total value of severance payments is set out in the department’s Annual Report and Accounts, which are available for the last three years.

Consumer law enforcement is principally the responsibility of the Competition and Markets Authority (CMA) and Local Authority Trading Standards. Section 216 of the Digital Markets, Competition and Consumers Act 2024 grants the CMA enforcement functions under the Breaching of Limits on Ticket Sales Regulations 2018. Those regulations make it an offence to use software to purchase tickets in excess of the sales limit set by an event organiser for a UK recreational, sporting or cultural event, where the intent is to secure financial gain. As an independent authority, the CMA has discretion to undertake enforcement action which, according to its prioritisation principles, it considers most appropriate.

The Department has undertaken analysis to estimate the economic impact of introducing a price cap on the ticket resale market. The modelling uses a series of assumptions about how ticket touts might adapt their activities. These assumptions are inherently uncertain. The model assumes that 20% of tickets originally resold by touts on secondary ticketing platforms will instead by resold via alternative channels. We will continue to refine the modelling and further examine the risks associated with resale activity on alternative channels, before publishing an impact assessment when legislation is introduced to Parliament.

Data on the effects of the National Minimum Wage at constituent level is not held. However, in the North West an estimated 30,000 on the 18–20 rate are expected to benefit from the 8.5% increase of the 18-20-year-old National Minimum Wage on 1 April.

The government remains fully committed to the alignment of the National Minimum Wage with the National Living Wage rate. The pace and timing of alignment will be guided by expert advice from the Low Pay Commission based on the latest evidence. The latest remit allows the Commission to balance the ambition to remove age bands, with protecting employment prospects for young people.

In April 2025 Invest NI informed DBT that a potential investment by Cantor Fitzgerald would not be proceeding.

DBT continues to work collaboratively with Northern Ireland Executive departments, Invest NI, and other key stakeholders to support inward investment into Northern Ireland. DBT’s extensive international network promotes Northern Ireland as an excellent investment destination within the UK.

In September 2025 Bank of America committed to opening a new office in Belfast creating up to 1,000 roles and recruitment for the first wave of roles is underway. This announcement highlights the continued growth in US investment into Northern Ireland.

AI tools integrated into e-commerce platforms can help small and medium-sized enterprises (SMEs) to become more productive by automating routine tasks and improving data-based decision-making, for example on marketing, customer service and stock management.

The Department for Business and Trade is committed to increasing SME digital capability and AI confidence and is implementing the SME Digital Adoption Taskforce recommendations to address barriers such as lack of information, resources and skills. This includes convening industry roundtables to partner on delivering more, running local digital adoption pilots to test what support works best as well as linking up with the Business Growth Service to improve SME access to existing support.

There are approximately 3,000 workers at British Steel’s Scunthorpe site. British Steel remains owned by Jingye and HM Government’s powers to intervene under the Steel Industry (Special Measures) Act 2025 are designed to maintain steelmaking and avoid a disorderly closure of the blast furnaces.

We are in discussions with the owner, which remain confidential, to find a pragmatic and realistic solution.