Department for Business and Trade

I refer the Honourable Member to the answer I gave to Written PQ 107250 on 28^th January 2026.

The nature of any association with sanctioned persons or jurisdictions can vary considerably, and such links do not, in themselves, prevent an organisation or its directors from establishing a lawful UK company. Nor does the existence of such an association automatically indicate improper intent. Companies House applies a proportionate, risk-based approach and acts where there is evidence of unlawful activity. The Registrar has powers to require information, share intelligence with enforcement partners, and strike off a company if false or misleading information is included in the incorporation application.

A breathing space gives individuals the right to legal protections from creditor action to recover debts included in the agreement. If a creditor does not comply, the regulations set out that the debt adviser responsible for the application can contact the creditor to remind them of their obligations or ultimately notify the Insolvency Service, as the scheme’s administrator, to require their compliance. Notifications to the Insolvency Service are very rare. If non-compliance persists, action taken by a creditor is invalid and they may be liable for the debtor’s costs. Repeated breaches can be considered by the creditor’s regulator, where appropriate.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.

The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.

The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.

The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.

The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.

The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.

The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.

The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

Ofcom, as the independent regulator of postal services, has powers to investigate and take enforcement action should Royal Mail fail to achieve its obligations without good justification. It is for Royal Mail, as an independent business, to determine the appropriate staffing levels it needs to meet its universal service obligation.

Additionally, the government recognises the importance of timely delivery of NHS letters. Royal Mail has introduced an NHS barcode to assist NHS units that continue to rely on post to communicate with patients.

The Personal Insolvency Review is the most significant review of the personal insolvency framework in England and Wales since the introduction of the current regime in 1986. The review is ongoing, and the Government expects to finalise options for reform in the coming months.

Any proposed reforms to the personal insolvency regime will be subject to public consultation.

There has been a change to industry classifications between these two periods, but the statistics are broadly comparable. Estimated numbers of companies with the Standard Industrial Classification (SIC) 2003 code 49410 (Freight transport by road) and SIC 2007 code 6024 (Freight transport by road) that entered insolvency in the UK in calendar years 2008 to 2011 and 2022 to 2025 are presented in the tables below.

The British Business Bank does not record or allocate its costs based on thematic categories such as net zero, decarbonisation, sustainability or the green economy. Its programme expenditure, staffing costs, and consultancy and professional services are managed and reported with reference to the programme or business line to which they relate, rather than by policy objective.

For this reason, the Bank is not in a position to provide a breakdown of costs for the year 2024–25 in the format requested.

The Government recognises the important role the Post Office plays in providing essential banking services, particularly in rural areas. We welcome Banking Framework 4, which allows personal and business customers to withdraw and deposit cash, check their balance and pay bills at thousands of Post Office branches across the UK.

On 21 January, the Government held joint discussions between the Post Office and the banking sector to explore where continued collaboration, on a commercial and voluntary basis, would allow all parties to better meet the needs of individuals and businesses.

Government does not, however, have a role in the Banking Framework negotiations. The Framework, and decisions about what services are available at the Post Office, such as cheque deposits, are made by the banks as part of their commercial arrangements.

Customers continue to have other options for paying in cheques, whether at local bank branches, by post, or digitally via mobile apps using cheque imaging technology.

The Government recognises the important role the Post Office plays in providing essential banking services, particularly in rural areas. We welcome Banking Framework 4, which allows personal and business customers to withdraw and deposit cash, check their balance and pay bills at thousands of Post Office branches across the UK.

On 21 January, the Government held joint discussions between the Post Office and the banking sector to explore where continued collaboration, on a commercial and voluntary basis, would allow all parties to better meet the needs of individuals and businesses.

Government does not, however, have a role in the Banking Framework negotiations. The Framework, and decisions about what services are available at the Post Office, such as cheque deposits, are made by the banks as part of their commercial arrangements.

Customers continue to have other options for paying in cheques, whether at local bank branches, by post, or digitally via mobile apps using cheque imaging technology.

This Government is committed to rooting out human rights and labour abuses from global supply chains. We support responsible business conduct standards to accelerate the positive contribution of companies to sustainable development and help businesses avoid and address any direct or indirect adverse impacts.

In the Trade Strategy, we launched the Responsible Business Conduct review, to evaluate the UK’s current approach, and assess the merits of alternative policy options to support responsible business. Ministers will update Parliament when the review is complete.

As a State Party to the Convention on Cluster Munitions, the UK takes its obligations seriously and continues to fulfil them. The UK takes a comprehensive approach across government and globally to directly tackle the issue of cluster munitions, including adopting national legislation. The UK Cluster Munitions (Prohibitions) Act 2010 which was introduced by the then Labour government, created criminal offences banning the use, production, transfer and stockpiling of cluster munitions (Article 9).

As a consequence, the manufacture of cluster munitions is prohibited in the UK. The export of such munitions is also subject to the strictest controls. Such exports would only be permitted in order for such munitions to be destroyed, for training in detection or disposal, or for development of counter-measures.

On average, from 2022 to 2024, the agreement between the UK and SACUM members has resulted in over £2.3bn of imports entering the UK eligible for reduced duties each year, with £2.1bn benefitting from the lower duty rate afforded under the agreement. During this time, more than £2.0bn of goods benefitting from reduced duties originated from South Africa.

The EPA has delivered tariff savings and lowered import costs for British consumers and businesses. As set out in the UK Trade Strategy, we have started a tariff review of the UK-SACUM EPA that will aim to further reduce tariff barriers under the Agreement. We will update Parliament once these discussions conclude.

On average, from 2022 to 2024, the agreement between the UK and SACUM members has resulted in over £2.3bn of imports entering the UK eligible for reduced duties each year, with £2.1bn benefitting from the lower duty rate afforded under the agreement. During this time, more than £2.0bn of goods benefitting from reduced duties originated from South Africa.

The EPA has delivered tariff savings and lowered import costs for British consumers and businesses. As set out in the UK Trade Strategy, we have started a tariff review of the UK-SACUM EPA that will aim to further reduce tariff barriers under the Agreement. We will update Parliament once these discussions conclude.

On average, from 2022 to 2024, the agreement between the UK and SACUM members has resulted in over £2.3bn of imports entering the UK eligible for reduced duties each year, with £2.1bn benefitting from the lower duty rate afforded under the agreement. During this time, more than £2.0bn of goods benefitting from reduced duties originated from South Africa.

The EPA has delivered tariff savings and lowered import costs for British consumers and businesses. As set out in the UK Trade Strategy, we have started a tariff review of the UK-SACUM EPA that will aim to further reduce tariff barriers under the Agreement. We will update Parliament once these discussions conclude.

On average, from 2022 to 2024, the agreement between the UK and SACUM members has resulted in over £2.3bn of imports entering the UK eligible for reduced duties each year, with £2.1bn benefitting from the lower duty rate afforded under the agreement. During this time, more than £2.0bn of goods benefitting from reduced duties originated from South Africa.

The EPA has delivered tariff savings and lowered import costs for British consumers and businesses. As set out in the UK Trade Strategy, we have started a tariff review of the UK-SACUM EPA that will aim to further reduce tariff barriers under the Agreement. We will update Parliament once these discussions conclude.

On average, from 2022 to 2024, the agreement between the UK and SACUM members has resulted in over £2.3bn of imports entering the UK eligible for reduced duties each year, with £2.1bn benefitting from the lower duty rate afforded under the agreement. During this time, more than £2.0bn of goods benefitting from reduced duties originated from South Africa.

The EPA has delivered tariff savings and lowered import costs for British consumers and businesses. As set out in the UK Trade Strategy, we have started a tariff review of the UK-SACUM EPA that will aim to further reduce tariff barriers under the Agreement. We will update Parliament once these discussions conclude.

The package is a commitment from the UK’s top high-street banks to lend more to small and medium sized enterprises (SMEs) using UKEF’s guarantee, to boost UK exports and economic growth. It signals to SMEs that want to export that there is a dedicated pool of capital available for them from lenders whom they trust.

Each bank has agreed to make the funds available across the whole of the UK. While we have not made formal assessments of the impact of these commitments on exports, the UK economy or jobs, last year UK Export Finance provided £14.5 billion of support to UK exporters, in turn supporting up to 70,000 jobs and contributing £5.4 billion to the economy.

The package is a commitment from the UK’s top high-street banks to lend more to small and medium sized enterprises (SMEs) using UKEF’s guarantee, to boost UK exports and economic growth. It signals to SMEs that want to export that there is a dedicated pool of capital available for them from lenders whom they trust.

Each bank has agreed to make the funds available across the whole of the UK. While we have not made formal assessments of the impact of these commitments on exports, the UK economy or jobs, last year UK Export Finance provided £14.5 billion of support to UK exporters, in turn supporting up to 70,000 jobs and contributing £5.4 billion to the economy.

The package is a commitment from the UK’s top high-street banks to lend more to small and medium sized enterprises (SMEs) using UKEF’s guarantee, to boost UK exports and economic growth. It signals to SMEs that want to export that there is a dedicated pool of capital available for them from lenders whom they trust.

Each bank has agreed to make the funds available across the whole of the UK. While we have not made formal assessments of the impact of these commitments on exports, the UK economy or jobs, last year UK Export Finance provided £14.5 billion of support to UK exporters, in turn supporting up to 70,000 jobs and contributing £5.4 billion to the economy.

The US has committed to ensuring that access to medicines and launches of new innovative medicines in the UK are not inadvertently impacted by the US’s ‘Most Favoured Nation’ policy, thereby reducing the risk to the UK where the NHS has managed to secure lower prices for medicines.

Further work to finalise underpinning details is ongoing.

The EU-Mercosur Free Trade Agreement liberalises trade between the EU and Mercosur. As such, we do not expect that there would be a direct impact on UK imports of agricultural products from the bloc.

The UK Government continues to support British businesses through free trade and mutual recognition agreements, in line with the Trade Strategy. These agreements typically include provisions that support the accreditation and conformity assessment sectors, providing British businesses with enhanced access to foreign markets. For instance, UK conformity assessment bodies can now apply for accreditation and approval in Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) countries, allowing British businesses to test products in the UK against CPTPP country requirements.

The UK Government routinely carries out and publishes economic assessments for trade agreements and legislation, which consider how agreements can reduce non-tariff barriers for British businesses.

The package is a commitment from the UK’s top high-street banks to lend more to small and medium sized enterprises (SMEs) using UK Export Finance’s (UKEF’s) guarantee, to boost UK exports and economic growth. It signals to SMEs that want to export that there is a dedicated pool of capital available for them from lenders whom they trust.

Repayment of the loans will be managed by the respective banks, applying their regular criteria and processes. UKEF has robust legal agreements in place which set requirements regarding monitoring of potential defaults and making relevant recoveries.

While we have not made formal assessments of the economic impact of the SME Exporter Fund, last year UK Export Finance (UKEF) provided £14.5 billion of support to UK exporters, in turn supporting up to 70,000 jobs and contributing £5.4 billion to the economy.

Each bank has agreed to make the funds available across the whole of the UK. UKEF also has a network of export finance managers (EFMs) around the whole country who are valuable points of contact for local businesses and can provide information on the range of support available. Contact details for the EFM covering Buckingham and Bletchley, and others, can be found at: www.gov.uk/government/publications/find-an-export-finance-manager

The package is a commitment from the UK’s top high-street banks to lend more to small and medium sized enterprises (SMEs) using UK Export Finance’s (UKEF’s) guarantee, to boost UK exports and economic growth. It signals to SMEs that want to export that there is a dedicated pool of capital available for them from lenders whom they trust.

Repayment of the loans will be managed by the respective banks, applying their regular criteria and processes. UKEF has robust legal agreements in place which set requirements regarding monitoring of potential defaults and making relevant recoveries.

While we have not made formal assessments of the economic impact of the SME Exporter Fund, last year UK Export Finance (UKEF) provided £14.5 billion of support to UK exporters, in turn supporting up to 70,000 jobs and contributing £5.4 billion to the economy.

Each bank has agreed to make the funds available across the whole of the UK. UKEF also has a network of export finance managers (EFMs) around the whole country who are valuable points of contact for local businesses and can provide information on the range of support available. Contact details for the EFM covering Buckingham and Bletchley, and others, can be found at: www.gov.uk/government/publications/find-an-export-finance-manager

The Steel Council was re-established in 2025 to support the development of the forthcoming steel strategy. The list of members can be found using the following link [ https://www.gov.uk/government/news/government-sets-out-plan-to-secure-the-long-term-future-of-steelmaking-and-safeguard-steel-communities] and includes the British Metals Recycling Association and UK Steel which represent parts of the steel supply chain.

We have committed to revisiting the role and membership of the Council upon publication of the strategy.

The date of the next Steel Council meeting is yet to be set, but we continue to engage closely with the sector, including the wider supply chain, on key issues. The Minister for Industry and the Minister for Trade met with steel industry supply chain companies on 10 November 2025 and 19 January 2026.

The Steel Council was re-established in 2025 to support the development of the forthcoming steel strategy. The list of members can be found using the following link [ https://www.gov.uk/government/news/government-sets-out-plan-to-secure-the-long-term-future-of-steelmaking-and-safeguard-steel-communities] and includes the British Metals Recycling Association and UK Steel which represent parts of the steel supply chain.

We have committed to revisiting the role and membership of the Council upon publication of the strategy.

The date of the next Steel Council meeting is yet to be set, but we continue to engage closely with the sector, including the wider supply chain, on key issues. The Minister for Industry and the Minister for Trade met with steel industry supply chain companies on 10 November 2025 and 19 January 2026.

Through EPD negotiations, the UK has agreed preferential trading terms with the US in a range of sectors. This includes locking in a 10% “reciprocal” tariff, 0% for aerospace and pharmaceuticals, and 10% for cars within quota. The UK is also the only country to have avoided 50% steel and aluminium tariffs.

Discussions continue on a wider UK-US Economic Deal which will look at addressing specific tariff and non-tariff barriers and increasing digital and services trade.

We will keep the House fully informed on these developments along with the expected economic outcomes of the final deal.

Impact assessments are completed at the conclusion of a Free Trade Agreement.

Full details of the activities undertaken by UK Export Finance (UKEF) relating to net zero, climate or sustainability objectives can be found in the UK Export Finance Annual Report and Accounts 2024 to 2025 - GOV.UK.

Any final agreement will be scrutinised by Parliament in line with established procedures.

Any primary or secondary legislation required to implement an agreement will also be subject to standard legislative procedures.

It was this government that got the first trade deal with the US, protecting British jobs and saving people money. We remain the only country to have secured a 10% tariff on cars within quota, agreed a 0% tariff on pharmaceutical exports to the US, and avoided the 50% global steel and aluminium tariff.

The Department for Business and Trade has integrated its support for SMEs in a single, accessible place – the Business Growth Service – designed to help businesses across the UK start, scale, and succeed globally. UK businesses can access guidance on exporting, including to the US, via business.gov.uk.

On 8 May 2025, the UK Government announced a landmark economic deal with the US that included new reciprocal market access on beef – giving UK farmers a guaranteed quota for 13,000 metric tonnes of beef exports.

All food imports into the UK, including those agreed with the US, must comply with all of the UK’s import requirements, including sanitary and phytosanitary (SPS) rules. Decisions on food safety standards are always made in the interest of protecting human, animal or plant life or health in the UK.

My department works closely with hospitality businesses to assess impact of rising operating costs across energy, staffing, compliance and taxation. Additionally, the Hospitality Sector Council provides a formal forum to co-create solutions to pressures facing the industry.

The Government recognises that independent breweries are essential to the diversity and character of our pubs. We have conducted a review of the beer market to determine whether there are any structural barriers preventing small breweries, the findings from which are currently being reviewed.

We maintain regular engagement with trade bodies such as the Society of Independent Brewers, as well as colleagues across government, to ensure that policy decisions are informed by the latest evidence and genuinely support the sector’s long‑term stability.

The Government is developing a Steel Strategy to be published in early 2026 that will set out a long-term vision for a bright and sustainable steel sector in the UK and the actions needed to get there.

The strategy will articulate what is needed to create a competitive business environment in the UK with the aim of attracting new private investment to secure and expand UK steelmaking capability and capacity which is aligned with our Net Zero goals.

The Government acknowledges the UK steel sector's growing need for high-quality scrap supply. We are committed to collaborating with the supply chain to foster sector growth whilst maintaining a fair market for all stakeholders. The British Metals Recycling Association’s August 2025 report provides valuable insights, which we are considering as we progress policy options in this area. We continue to engage with all relevant parties to ensure our approach supports both industry growth and the wider UK economy.

In 2024, the UK produced 4 million tonnes of crude steel and imported 6.8 million tonnes of semi-finished and finished steel for a variety of uses, including manufacturing (1)(2). The Government knows how important the use of UK-made steel is to communities across the country and we recognise the need to create a competitive business environment for steel production here in the UK. We will publish a steel strategy this year which will set out our vision for a bright and sustainable future for steel in the UK.

In its role as the UK’s export credit agency, UK Export Finance (UKEF) provided a loan guarantee on commercial terms that will enable UK companies to supply goods and services to the Belgian bottle plant.

Through this guaranteed loan, UKEF is supporting Tecoglas Limited, a Sheffield based company, which will export two glass furnaces and is expected to back a further 15 UK SMEs in its supply chain, helping to secure and support UK jobs.

The powers in the Act enable the UK to maintain high product standards, supporting businesses and economic growth, by allowing the UK Parliament the power to update relevant laws. As stated in the budget announcement we plan to consult in early 2026 on major reforms to modernise and simplify the UK’s product safety framework, including to rebalance the playing field between online and physical retailers, improve consumer safety and streamline processes for enforcement.