Callum Anderson

The UK Government Resilience Action Plan is underpinned by well-established Cabinet Office governance structures, including the National Security Council (Resilience), which oversee the implementation and delivery of resilience matters across UK government.

The action plan announced new assurance measures to raise resilience standards across government, refreshed expectations for Lead Government Departments will clarify roles and responsibilities, and the UK Resilience Academy will convene expert panels to scrutinise government plans and preparedness for whole-system civil emergencies.

The Cabinet Office will continue to report on resilience progress with an annual statement to Parliament on resilience.

The UK Government Resilience Action Plan is underpinned by well-established Cabinet Office governance structures, including the National Security Council (Resilience), which oversee the implementation and delivery of resilience matters across UK government.

The action plan announced new assurance measures to raise resilience standards across government, refreshed expectations for Lead Government Departments will clarify roles and responsibilities, and the UK Resilience Academy will convene expert panels to scrutinise government plans and preparedness for whole-system civil emergencies.

The Cabinet Office will continue to report on resilience progress with an annual statement to Parliament on resilience.

The UK Government Resilience Action Plan is underpinned by well-established Cabinet Office governance structures, including the National Security Council (Resilience), which oversee the implementation and delivery of resilience matters across UK government.

The action plan announced new assurance measures to raise resilience standards across government, refreshed expectations for Lead Government Departments will clarify roles and responsibilities, and the UK Resilience Academy will convene expert panels to scrutinise government plans and preparedness for whole-system civil emergencies.

The Cabinet Office will continue to report on resilience progress with an annual statement to Parliament on resilience.

The National Security and Investment (NSI) Act 2021 gives the Government power to scrutinise and intervene in acquisitions that may pose threats to national security, whilst also supporting secure and resilient growth. All sectors are within scope of the NSI Act, with acquisitions of entities related to 17 sensitive areas of the economy having to notify and receive approval from the Government before the acquisition can be completed.

The Government is taking a number of steps to ensure the continued effectiveness of the NSI Act.

• The previous Government published a Call for Evidence in November 2023 and a response in April 2024. The Call for Evidence sought feedback from a wide range of stakeholders on the scope of the regime, the notification process and Government guidance and comms. The Government is currently considering its next steps, drawing on responses received.

• The Government will review and produce a report on the mandatory notification areas under the NSI Act, as required by section 4 of the Notifiable Acquisitions Regulations 2021, before January 2025.

• The Government will complete a Post-Implementation Review, as committed to in the NSI Act Impact Assessment, evaluating the effectiveness of the NSI Act. This is expected to be published in 2026.

• The Government regularly engages with stakeholders on the NSI Act, including speaking events, meetings and feedback exercises.

The Government has published extensive guidance for businesses and investors. The NSI Act Market Guidance sets out what businesses and investors, including small and medium-sized businesses, need to be aware of and is available on GOV.UK. The guidance is kept under review to ensure it remains up to date.

The “National Security & Investment Act 2021: Annual Report 2023-2024” published in September shows that the NSI system is continuing to run well and as intended. It demonstrates that we have the powers to protect sensitive sectors whilst continuing to support investment. Analysis to date has not found evidence of the Act affecting the total volume of investment into the UK.

The UK’s approach to investment screening is in line with many other countries, including our close allies. We continue to work closely with international partners to draw on global best practice.

The National Security and Investment (NSI) Act 2021 gives the Government power to scrutinise and intervene in acquisitions that may pose threats to national security, whilst also supporting secure and resilient growth. All sectors are within scope of the NSI Act, with acquisitions of entities related to 17 sensitive areas of the economy having to notify and receive approval from the Government before the acquisition can be completed.

The Government is taking a number of steps to ensure the continued effectiveness of the NSI Act.

• The previous Government published a Call for Evidence in November 2023 and a response in April 2024. The Call for Evidence sought feedback from a wide range of stakeholders on the scope of the regime, the notification process and Government guidance and comms. The Government is currently considering its next steps, drawing on responses received.

• The Government will review and produce a report on the mandatory notification areas under the NSI Act, as required by section 4 of the Notifiable Acquisitions Regulations 2021, before January 2025.

• The Government will complete a Post-Implementation Review, as committed to in the NSI Act Impact Assessment, evaluating the effectiveness of the NSI Act. This is expected to be published in 2026.

• The Government regularly engages with stakeholders on the NSI Act, including speaking events, meetings and feedback exercises.

The Government has published extensive guidance for businesses and investors. The NSI Act Market Guidance sets out what businesses and investors, including small and medium-sized businesses, need to be aware of and is available on GOV.UK. The guidance is kept under review to ensure it remains up to date.

The “National Security & Investment Act 2021: Annual Report 2023-2024” published in September shows that the NSI system is continuing to run well and as intended. It demonstrates that we have the powers to protect sensitive sectors whilst continuing to support investment. Analysis to date has not found evidence of the Act affecting the total volume of investment into the UK.

The UK’s approach to investment screening is in line with many other countries, including our close allies. We continue to work closely with international partners to draw on global best practice.

The National Security and Investment (NSI) Act 2021 gives the Government power to scrutinise and intervene in acquisitions that may pose threats to national security, whilst also supporting secure and resilient growth. All sectors are within scope of the NSI Act, with acquisitions of entities related to 17 sensitive areas of the economy having to notify and receive approval from the Government before the acquisition can be completed.

The Government is taking a number of steps to ensure the continued effectiveness of the NSI Act.

• The previous Government published a Call for Evidence in November 2023 and a response in April 2024. The Call for Evidence sought feedback from a wide range of stakeholders on the scope of the regime, the notification process and Government guidance and comms. The Government is currently considering its next steps, drawing on responses received.

• The Government will review and produce a report on the mandatory notification areas under the NSI Act, as required by section 4 of the Notifiable Acquisitions Regulations 2021, before January 2025.

• The Government will complete a Post-Implementation Review, as committed to in the NSI Act Impact Assessment, evaluating the effectiveness of the NSI Act. This is expected to be published in 2026.

• The Government regularly engages with stakeholders on the NSI Act, including speaking events, meetings and feedback exercises.

The Government has published extensive guidance for businesses and investors. The NSI Act Market Guidance sets out what businesses and investors, including small and medium-sized businesses, need to be aware of and is available on GOV.UK. The guidance is kept under review to ensure it remains up to date.

The “National Security & Investment Act 2021: Annual Report 2023-2024” published in September shows that the NSI system is continuing to run well and as intended. It demonstrates that we have the powers to protect sensitive sectors whilst continuing to support investment. Analysis to date has not found evidence of the Act affecting the total volume of investment into the UK.

The UK’s approach to investment screening is in line with many other countries, including our close allies. We continue to work closely with international partners to draw on global best practice.

The National Security and Investment (NSI) Act 2021 gives the Government power to scrutinise and intervene in acquisitions that may pose threats to national security, whilst also supporting secure and resilient growth. All sectors are within scope of the NSI Act, with acquisitions of entities related to 17 sensitive areas of the economy having to notify and receive approval from the Government before the acquisition can be completed.

The Government is taking a number of steps to ensure the continued effectiveness of the NSI Act.

• The previous Government published a Call for Evidence in November 2023 and a response in April 2024. The Call for Evidence sought feedback from a wide range of stakeholders on the scope of the regime, the notification process and Government guidance and comms. The Government is currently considering its next steps, drawing on responses received.

• The Government will review and produce a report on the mandatory notification areas under the NSI Act, as required by section 4 of the Notifiable Acquisitions Regulations 2021, before January 2025.

• The Government will complete a Post-Implementation Review, as committed to in the NSI Act Impact Assessment, evaluating the effectiveness of the NSI Act. This is expected to be published in 2026.

• The Government regularly engages with stakeholders on the NSI Act, including speaking events, meetings and feedback exercises.

The Government has published extensive guidance for businesses and investors. The NSI Act Market Guidance sets out what businesses and investors, including small and medium-sized businesses, need to be aware of and is available on GOV.UK. The guidance is kept under review to ensure it remains up to date.

The “National Security & Investment Act 2021: Annual Report 2023-2024” published in September shows that the NSI system is continuing to run well and as intended. It demonstrates that we have the powers to protect sensitive sectors whilst continuing to support investment. Analysis to date has not found evidence of the Act affecting the total volume of investment into the UK.

The UK’s approach to investment screening is in line with many other countries, including our close allies. We continue to work closely with international partners to draw on global best practice.

The National Security and Investment (NSI) Act 2021 gives the Government power to scrutinise and intervene in acquisitions that may pose threats to national security, whilst also supporting secure and resilient growth. All sectors are within scope of the NSI Act, with acquisitions of entities related to 17 sensitive areas of the economy having to notify and receive approval from the Government before the acquisition can be completed.

The Government is taking a number of steps to ensure the continued effectiveness of the NSI Act.

• The previous Government published a Call for Evidence in November 2023 and a response in April 2024. The Call for Evidence sought feedback from a wide range of stakeholders on the scope of the regime, the notification process and Government guidance and comms. The Government is currently considering its next steps, drawing on responses received.

• The Government will review and produce a report on the mandatory notification areas under the NSI Act, as required by section 4 of the Notifiable Acquisitions Regulations 2021, before January 2025.

• The Government will complete a Post-Implementation Review, as committed to in the NSI Act Impact Assessment, evaluating the effectiveness of the NSI Act. This is expected to be published in 2026.

• The Government regularly engages with stakeholders on the NSI Act, including speaking events, meetings and feedback exercises.

The Government has published extensive guidance for businesses and investors. The NSI Act Market Guidance sets out what businesses and investors, including small and medium-sized businesses, need to be aware of and is available on GOV.UK. The guidance is kept under review to ensure it remains up to date.

The “National Security & Investment Act 2021: Annual Report 2023-2024” published in September shows that the NSI system is continuing to run well and as intended. It demonstrates that we have the powers to protect sensitive sectors whilst continuing to support investment. Analysis to date has not found evidence of the Act affecting the total volume of investment into the UK.

The UK’s approach to investment screening is in line with many other countries, including our close allies. We continue to work closely with international partners to draw on global best practice.

The National Security and Investment (NSI) Act 2021 gives the Government power to scrutinise and intervene in acquisitions that may pose threats to national security, whilst also supporting secure and resilient growth. All sectors are within scope of the NSI Act, with acquisitions of entities related to 17 sensitive areas of the economy having to notify and receive approval from the Government before the acquisition can be completed.

The Government is taking a number of steps to ensure the continued effectiveness of the NSI Act.

• The previous Government published a Call for Evidence in November 2023 and a response in April 2024. The Call for Evidence sought feedback from a wide range of stakeholders on the scope of the regime, the notification process and Government guidance and comms. The Government is currently considering its next steps, drawing on responses received.

• The Government will review and produce a report on the mandatory notification areas under the NSI Act, as required by section 4 of the Notifiable Acquisitions Regulations 2021, before January 2025.

• The Government will complete a Post-Implementation Review, as committed to in the NSI Act Impact Assessment, evaluating the effectiveness of the NSI Act. This is expected to be published in 2026.

• The Government regularly engages with stakeholders on the NSI Act, including speaking events, meetings and feedback exercises.

The Government has published extensive guidance for businesses and investors. The NSI Act Market Guidance sets out what businesses and investors, including small and medium-sized businesses, need to be aware of and is available on GOV.UK. The guidance is kept under review to ensure it remains up to date.

The “National Security & Investment Act 2021: Annual Report 2023-2024” published in September shows that the NSI system is continuing to run well and as intended. It demonstrates that we have the powers to protect sensitive sectors whilst continuing to support investment. Analysis to date has not found evidence of the Act affecting the total volume of investment into the UK.

The UK’s approach to investment screening is in line with many other countries, including our close allies. We continue to work closely with international partners to draw on global best practice.

The National Security and Investment (NSI) Act 2021 gives the Government power to scrutinise and intervene in acquisitions that may pose threats to national security, whilst also supporting secure and resilient growth. All sectors are within scope of the NSI Act, with acquisitions of entities related to 17 sensitive areas of the economy having to notify and receive approval from the Government before the acquisition can be completed.

The Government is taking a number of steps to ensure the continued effectiveness of the NSI Act.

• The previous Government published a Call for Evidence in November 2023 and a response in April 2024. The Call for Evidence sought feedback from a wide range of stakeholders on the scope of the regime, the notification process and Government guidance and comms. The Government is currently considering its next steps, drawing on responses received.

• The Government will review and produce a report on the mandatory notification areas under the NSI Act, as required by section 4 of the Notifiable Acquisitions Regulations 2021, before January 2025.

• The Government will complete a Post-Implementation Review, as committed to in the NSI Act Impact Assessment, evaluating the effectiveness of the NSI Act. This is expected to be published in 2026.

• The Government regularly engages with stakeholders on the NSI Act, including speaking events, meetings and feedback exercises.

The Government has published extensive guidance for businesses and investors. The NSI Act Market Guidance sets out what businesses and investors, including small and medium-sized businesses, need to be aware of and is available on GOV.UK. The guidance is kept under review to ensure it remains up to date.

The “National Security & Investment Act 2021: Annual Report 2023-2024” published in September shows that the NSI system is continuing to run well and as intended. It demonstrates that we have the powers to protect sensitive sectors whilst continuing to support investment. Analysis to date has not found evidence of the Act affecting the total volume of investment into the UK.

The UK’s approach to investment screening is in line with many other countries, including our close allies. We continue to work closely with international partners to draw on global best practice.

Impact assessments are generally required for all the Government’s interventions of a regulatory nature that affect the private sector and-or civil society organisation or public services. The Better Regulation Framework requires regulatory provisions with impacts on business of greater than +/-£10 million to be accompanied by a final impact assessment which is laid before Parliament alongside the regulations. These assessments consider the impact on small businesses, explore whether such businesses need to be in scope and identify mitigations for the additional burden.

The government has committed to cut the administrative costs of regulation to business by 25% by the end of this Parliament. By focusing on reducing administrative costs, we will ensure that regulations achieve their policy objectives in the most efficient way possible with the lowest possible costs to business. My department is working across government to support delivery of this target and make businesses’ lives easier, including SMEs who represent the majority of businesses and are foundational to our economy.

The Government has published its Small Business Plan (Backing your Business) in July 2025. We are delivering the most comprehensive package of support for SMEs in a generation.

We have also committed to funding for the 41 Growth Hubs across England which help start-up businesses and entrepreneurs to unlock their potential through bespoke support and resources.

Buckingham and Bletchley is served by Buckinghamshire Business First and the South Midlands Growth Hubs who issue business support grants to SMEs in their area.

The Department for Business and Trade does not hold statistics that cover the full range of Govt-funded business support at constituency level.

The Government has published its Small Business Plan (Backing your Business) in July 2025. We are delivering the most comprehensive package of support for SMEs in a generation.

We have also committed to funding for the 41 Growth Hubs across England which help start-up businesses and entrepreneurs to unlock their potential through bespoke support and resources.

Buckingham and Bletchley is served by Buckinghamshire Business First and the South Midlands Growth Hubs who issue business support grants to SMEs in their area.

The Department for Business and Trade does not hold statistics that cover the full range of Govt-funded business support at constituency level.

The Government is committed to engaging with and supporting small businesses across the UK through the transition to net zero.

DBT has recently announced the British Industrial Competitiveness Scheme which will reduce electricity costs for over 7,000 electricity-intensive businesses and reform the grid connections process.

DESNZ will publish its response later this year to the September 2024 consultation on introducing a regulatory regime for the third-party intermediary (TPI) market. TPIs, such as energy brokers, play a prominent role in how SMEs secure contracts for the energy usage.

The Department for Business and Trade monitors the level of SME participation in our procurement through contract award data via a live commercial dashboard which captures supplier type and specifically whether a supplier qualifies as an SME. DBT will publish SME spend data annually (in line with Procurement Policy Note 001). Strategies for high value spend are scrutinised by the department's Commercial Approvals and Assurance Group which challenges teams on whether proposed contracts are sufficiently accessible for SMEs.

The commercial team will present bi-annual progress updates against the department's SME spend target to the Minister for Small Businesses.

The economic impacts of increased access to capital are modelled by the British Business Bank drawing on independent evaluation evidence. The Bank models impact on job creation and economic output in the form of incremental gross value added (GVA).

Over its first decade to 2023/24, the Bank has supported more than 200,000 businesses with an estimated boost to UK economic output of approximately £43 billion over the lifetime of their finance.

The 24,000 businesses newly funded by the Bank in 2024/25 are expected to increase UK economic output by a further £8 billion and create 38,000 jobs over the lifetime of their finance.

Where possible, finance facilitated by the British Business Bank is mapped to a postcode level. Much of this data is published: for instance, the number and value of Start Up Loans data is published on the BBB website every quarter. Geographic data is also used in the evaluations of BBB programmes and on reporting on the BBB’s overall KPI of deployment of finance outside of London.

In addition to publishing data on its own programmes, the BBB also publishes reports which highlight geographic patterns observed in UK small business finance. For example, the BBB's annual Small Business Finance Markets report and the annual Nations and Regions Tracker which is next due to be published in October 2025.

DBT offers a range of support for SME’s, with the recent Small Business Plan unlocking billions of pounds in finance to support businesses to invest and revitalising the High Street as a place to do business. The new online Business Growth Service will deliver support for Digital Adoption and AI to unlock business potential. And our Trade Strategy offers a more targeted approach to export support, including the launch of the Ricardo Fund to help UK regulators remove regulatory barriers for businesses trading abroad.

DBT has a robust monitoring and evaluation framework in place for export support and the Trade Strategy. The data will be published in DBT's Annual Report.

The Department has not undertaken a further economic impact assessment following the launch of the DCTS. The Scheme provides UK businesses with the opportunity to diversify supply chains and reduce import costs by sourcing from DCTS countries, which benefit from duty-free access on an average of 94% of goods exported to the UK. We routinely monitor trade flows and utilisation of the Scheme, which shows that over £16 billion in UK imports has benefitted from tariff savings since the DCTS launched in June 2023. We also welcome feedback from businesses and beneficiaries on the operation of the Scheme.

The Department has not undertaken a quantitative assessment of the future long-term tariff revenue impact of the DCTS. Before launching the DCTS, the Department estimated based on historical trade patterns, annual tariff savings of up to £770 million to UK imports, benefitting UK businesses and consumers.  The Scheme's primary objective is to support trade-led growth and poverty reduction in developing countries. Any long-term impact on UK tariff revenue is expected to be modest and proportionate to the development benefits it delivers.

We are committed to our trading relationships across the continent of Africa, founded on partnerships and respect, to deliver mutual long-term benefit. Recent UK-Africa consultations demonstrated that African partners want increased trade with countries like the UK, and within the continent. Trade has the potential to drive growth. The UK provides duty-free, or virtually duty-free, market access for goods from 48 countries in Africa through our Developing Countries Trading Scheme (DCTS) and network of Economic Partnership Agreements. The UK also continues to support African partners to boost intra-African trade and prosperity through the African Continental Free Trade Area Agreement.

The Developing Countries Trading Scheme entered into force in June 2023 following thorough consultation and analysis. This included consultation with private sector stakeholders on UK market sensitivities. Seasonal tariffs were subsequently removed for four products (strawberries, cucumbers, artichokes, and wilkings) for imports from Enhanced Preferences countries. Where there is a risk to UK competitiveness, tariffs have been retained. The Government keeps trade preferences under review and may amend them in line with strategic trade priorities.

UK Export Finance (UKEF) support is conditional on the inclusion of UK content. This should usually be at least 20% of the portion of the support provided by UKEF. In this instance, UKEF has issued a guarantee to commercial lenders to help secure new export opportunities for the UK, which in turn support jobs across the UK, both in those businesses with which the project contracts directly, and in their supply chains. While there will be significant UK content, above the 20% threshold, we cannot comment on individual contracts for reasons of commercial sensitivity.

UKEF support is based on confirmed contracts for the provision of specialised services and components to support the construction project. UKEF is aware of several UK sub-contractors who are bidding for roles within the various construction contracts , but such selection is an ongoing process throughout the build phase.

UK Export Finance (UKEF) support is conditional on the inclusion of UK content. This should usually be at least 20% of the portion of the support provided by UKEF. In this instance, UKEF has issued a guarantee to commercial lenders to help secure new export opportunities for the UK, which in turn support jobs across the UK, both in those businesses with which the project contracts directly, and in their supply chains. While there will be significant UK content, above the 20% threshold, we cannot comment on individual contracts for reasons of commercial sensitivity.

UKEF support is based on confirmed contracts for the provision of specialised services and components to support the construction project. UKEF is aware of several UK sub-contractors who are bidding for roles within the various construction contracts , but such selection is an ongoing process throughout the build phase.

The Department for Business and Trade (DBT) tracks UK investment in various ways, including through its global network and central platform, DataHub, which monitors all Office for Investment (OfI) projects. This includes investments announced on 11 July during the UK-France Summit and the UK-France Industrial Strategy Partnership.

DRIVE35 will ensure the UK remains at the forefront of zero-emission vehicle manufacturing It will support the latest research and development, accelerate commercial scale up, and unlock capital investment in zero emission vehicles, batteries, and the wider supply chain. This will help in strengthening UK supply chain resilience, and boost competitiveness in the sector.

DRIVE35 is delivered through the Advanced Propulsion Centre UK (APC) and Innovate UK, part of UKRI.

DRIVE35 programme funding dispersed by the programme’s delivery partners is monitored in line with Cabinet Office Grant Functional Standards to ensure compliance with grant conditions and alignment with delivery requirements and the programme’s objectives. This includes undertaking effective assurance of the delivery activities undertaken by delivery partners.

DRIVE35 will ensure the UK remains at the forefront of zero-emission vehicle manufacturing. It will support the latest R&D in strategic vehicle technologies, accelerate their commercial scale-up, and unlock investment across all aspects of automotive electrification, enabling a holistic transition to next-generation electric vehicle technologies. All DRIVE35 competitions are open to SMEs.

Managing Public Money sets out expectations for all public services, including money spent procuring any goods and services. The standards are honesty, impartiality, openness, accountability, accuracy, fairness, integrity, transparency, objectivity, and reliability. All should be carried out in the spirit of, as well as to the letter of the law, in the public interest, to high ethical standards and achieving value for money.

It also sets out that there shall be adequate reporting arrangements to provide assurance to the board, the Accounting Officer and ultimately ministers about what is being achieved, to what standards and with what effect. Monitoring and evaluation are part of the development and planning of any intervention from the start. They are important to ensure successful implementation and the responsible, transparent management of public resources.

As stated in the public consultation document at the end of last month, the Government is considering plans that will allow Ministers to designate certain UK specific services, works or goods as nationally important to protecting UK national security - as part of our Plan for Change to secure Britain's future. The government is not inviting public consultation on this proposal but will engage with relevant national security stakeholders as necessary.

The £500 million programme of investment for entrepreneurs from underrepresented groups is a new initiative by the British Business Bank which has not yet opened for applications. This includes a £400m Investor Pathways Capital initiative, an addition of £50m in the Invest in Women Taskforce and an addition of £50m in the female-led funds that are aligned with the eight growth-driving sectors of the Industrial Strategy.

All Bank programmes, delivery partners and Fund Managers are subject to robust standards of monitoring, reporting, and independent evaluation with oversight by the Bank's investment committee and DBT. Performance of delivery partners is monitored, and the distribution of finance is tracked, including by diversity characteristics such as sex and ethnicity and a programme of early assessments, interim and final evaluations.

The £500 million programme of investment for entrepreneurs from underrepresented groups is a new initiative by the British Business Bank which has not yet opened for applications. This includes a £400m Investor Pathways Capital initiative, an addition of £50m in the Invest in Women Taskforce and an addition of £50m in the female-led funds that are aligned with the eight growth-driving sectors of the Industrial Strategy.

All Bank programmes, delivery partners and Fund Managers are subject to robust standards of monitoring, reporting, and independent evaluation with oversight by the Bank's investment committee and DBT. Performance of delivery partners is monitored, and the distribution of finance is tracked, including by diversity characteristics such as sex and ethnicity and a programme of early assessments, interim and final evaluations.

The new funding for entrepreneurs from underrepresented groups will be fairly distributed across the UK. Since the British Business Bank's founding, the Bank has backed businesses in all nations and regions of the UK, helping to deliver significant economic impacts.

The 10 Year Impact Report shows that 84% of the supported businesses have been based outside of London. The estimated GVA impact from the Bank's support reaches or exceeds £1bn in each and every nation and region. This is accompanied by tens of thousands of jobs being supported in each nation and region as well as boosting economically significant job creation.

Japan is an important economic partner, with more than 1,200 Japanese owned companies in the UK, supporting over 150,000 jobs across the UK

On 7 March, Foreign Secretary David Lammy and Business and Trade Secretary Jonathan Reynolds visited Tokyo for the inaugural UK-Japan Economic 2+2 Dialogue. The two Secretaries of State were accompanied by a UK business delegation and met representatives of Japanese business and industry

On 9 July, Minister for Investment Poppy Gustafsson travelled to Tokyo and met with Japanese businesses to support further Japanese investment into the UK. During the visit, Sumitomo Corporation announced its aim to facilitate £7.5 billion of investment into key UK infrastructure and clean energy projects by 2035. Department for Business and Trade officials are monitoring the implementation of these projects closely.

Japan is an important economic partner, with more than 1,200 Japanese owned companies in the UK, supporting over 150,000 jobs across the UK

On 7 March, Foreign Secretary David Lammy and Business and Trade Secretary Jonathan Reynolds visited Tokyo for the inaugural UK-Japan Economic 2+2 Dialogue. The two Secretaries of State were accompanied by a UK business delegation and met representatives of Japanese business and industry

On 9 July, Minister for Investment Poppy Gustafsson travelled to Tokyo and met with Japanese businesses to support further Japanese investment into the UK. During the visit, Sumitomo Corporation announced its aim to facilitate £7.5 billion of investment into key UK infrastructure and clean energy projects by 2035. Department for Business and Trade officials are monitoring the implementation of these projects closely.

As set out in the UK’s Trade Strategy, flexible trading arrangements and partnerships, such as the UK-Taiwan Enhanced Trade Partnership (ETP), are a valuable part of our toolkit.

The Investment Pillar of the ETP, along with the Digital Trade and Energy & Net Zero Pillars, sets out commitments on our respective trade and investment environments and frameworks. Our cooperation through the ETP will support trade and investment across all sectors, especially in the growth driving sectors outlined in the Modern Industrial Strategy. In particular, we will be focusing our implementation activities on complementary strengths between the UK and Taiwan, including in Advanced Manufacturing, Offshore Wind and Digital Infrastructure.

My department will keep businesses informed as we work with Taiwan to deliver our commitments under the ETP.