Question to the Department for Business and Trade:

To ask His Majesty's Government what discussions they have had with the Northern Ireland Executive regarding the withdrawal of the proposed investment by the US financial services firm Cantor Fitzgerald; and what discussions they have had with the Northern Ireland Executive and Invest Northern Ireland to support alternative inward investment and employment opportunities.

Answered by Lord Stockwood - Minister of State (HM Treasury)

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.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government what estimate they have made of the impact of the Greenhouse Gas Emissions Trading Scheme (Amendment) (Extension to Maritime Activities) Order 2026 on freight and passenger costs on routes between Great Britain and Northern Ireland.

Answered by Lord Whitehead - Minister of State (Department for Energy Security and Net Zero)

Compliance costs from the UK Emission Trading Scheme fall on ship operators, not passengers, and any fuel or ticket price changes are commercial decisions. Internal analysis, including route specific case studies, indicates final cost impacts on Great Britain–Northern Ireland voyages are minimal for passengers on key ferry routes and well under 1% for freight goods. These findings are consistent with international evidence showing only low single digit ticket price changes, not the larger increases suggested.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government what consultation was undertaken with the Northern Ireland Executive and Northern Ireland-based maritime operators about the Greenhouse Gas Emissions Trading Scheme (Amendment) (Extension to Maritime Activities) Order 2026 before its implementation.

Answered by Lord Whitehead - Minister of State (Department for Energy Security and Net Zero)

This policy has been developed jointly by the UK ETS Authority, which includes the Northern Ireland Department of Agriculture, Environment and Rural Affairs (DAERA). As with all Authority decisions, DAERA have an equal say on policy positions.

The Authority has conducted extensive consultation with stakeholders over the period between the first consultation in March 2022 and the response to the second consultation in November 2025.

Detailed consideration has been given to Northern Ireland’s specific circumstances, including the convening of several in-person and online engagement sessions with Northern Irish stakeholders, including Stena Line, Warrenpoint Port and B9 Energy Storage Ltd.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government what assessment they have made of the economic impact of extending the UK Emissions Trading Scheme to maritime activities on ferry routes between Great Britain and Northern Ireland, including on trade flows.

Answered by Lord Whitehead - Minister of State (Department for Energy Security and Net Zero)

The Government has assessed the economic impact of bringing maritime activities into the UK Emissions Trading Scheme through the published Impact Assessment, which found a positive net present social value for the UK as a whole.

Independent analysis by Frontier Economics identified no material risk of carbon leakage, diversion of trade, or competitive distortion on Great Britain–Northern Ireland routes. Internal route specific case studies also show very small effects on final prices, with increases of under 1% for typical freight goods. Overall, the policy delivers emissions reductions and wider economic benefits in the most cost-effective way possible.