Callum Anderson

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.

Promoting equal opportunities for women is a key part of this Government's Plan for Change, ensuring fair access to the best jobs. To that end, the Department for Business and Trade sponsors the FTSE Women Leaders Review, which collaborates with the UK's top public and private companies to achieve at least 40% representation of women on boards and at senior management levels.

The 2025 report evidences real progress in representation of women leaders across the top of UK businesses. The Government will continue to work with UK business and the Review to ensure the continuation of this promising momentum.

Investment is at the heart of the government’s growth mission, increasing the number of good, well-skilled jobs and improving productivity across the country. Foreign direct investment is one part of this and can support domestic businesses directly through supply chains and indirectly through spillover benefits. The new Office for Investment will work closely with all businesses to increase facilitation of investment from UK and overseas businesses.

Previous research in 2021 by DBT found that on average a £1 million FDI project into Great Britain leads to a net increase in national levels of GVA of around £98,000 and a net increase in employment.

Official Statistics at https://www.gov.uk/government/statistics/dbt-inward-investment-results-2023-to-2024 show 13 Foreign Direct Investment (FDI) projects landed in Buckinghamshire Local Enterprise Partnership (LEP) in 2023-24. This includes single site and multiple site projects. It was not possible to publish the number of new jobs created due to confidentiality issues. Statistics are not published at Local Authority level due to confidentiality concerns, but Milton Keynes is within South East Midlands LEP where 38 FDI projects landed and 3,010 jobs were created in 2023-24. The estimated economic impact of FDI projects is only published at a UK level.

Official Statistics at https://www.gov.uk/government/statistics/dbt-inward-investment-results-2023-to-2024 show 13 Foreign Direct Investment (FDI) projects landed in Buckinghamshire Local Enterprise Partnership (LEP) in 2023-24. This includes single site and multiple site projects. It was not possible to publish the number of new jobs created due to confidentiality issues. Statistics are not published at Local Authority level due to confidentiality concerns, but Milton Keynes is within South East Midlands LEP where 38 FDI projects landed and 3,010 jobs were created in 2023-24. The estimated economic impact of FDI projects is only published at a UK level.

We work with local and combined authorities to promote the most significant investment opportunities, by providing compelling products for use by the department’s UK and international teams.

With the expanded Office for Investment, we will build further on this approach, working in partnership, to turn the Industrial Strategy and regional growth plans into a clear, commercially attractive pipeline of investment opportunities. We are piloting an enhanced way of supporting transformational local projects, connecting them with specialist support or expertise from across government to develop opportunities at scale and with commercial credibility to pull in large scale investment.

The Energy Bills Discount Scheme closed on 31 March 2024, and so no businesses will benefit from the scheme during this time.

Early education gives all children the best start in life. That is why we are delivering the largest ever uplift to the early years pupil premium, increasing the early years pupil premium rate by over 45%, from 68p per hour in the 2024/25 financial year to £1 per hour in the 2025/26 financial year, equivalent to up to £570 per eligible child per year. The early years pupil premium rate will be the same for all age groups.

Early years funding, including early years pupil premium, is paid on the basis of part-time equivalents (PTEs) where one PTE is equivalent to a child attending a setting for 15 hours a week over 38 weeks. We expect to fund 862.52 PTEs in Buckinghamshire and 547.01 PTEs in Milton Keynes at the increased early years pupil premium rate in the 2025/26 financial year. Final allocations will be paid on updated census and headcount data.

More information on the 2025/26 financial year early years allocations and estimated PTEs can be found on GOV.UK.

Local authorities in England have a statutory duty to secure funded early education and childcare for eligible children in their area. The early education and childcare statutory guidance sets out what local authorities must do as required by legislation, and what they should do to meet their statutory duties.

To support local authorities with their statutory duties, the department recently published updated statutory guidance, which will come into effect in April 2025, reaffirming that whilst providers can charge parents for some additional extras, these charges must not be mandatory. The updates to the guidance will support local authorities to take a more consistent approach to implementing the rules across providers, including in Milton Keynes and Buckinghamshire. Local authorities are responsible for implementing the guidance at a local level and can intervene where the guidance is not being followed.

In 2025/26, the government plan to spend over £8 billion on the early years entitlements. This government has increased the early years pupil premium by 45% and are providing further supplementary funding of £75 million for the Early Years Expansion Grant.

Buckinghamshire will receive £834,187 and Milton Keynes will receive £430,010 in Early Years Expansion Grant funding. We have now published full details of allocations and conditions of grant, which are available here: https://www.gov.uk/government/publications/early-years-expansion-grant-2025-to-2026.

We expect local authorities to communicate all funding allocations to providers within six weeks of the publication of rates, that is by 10 April 2025.

The department is continuing to support and challenge Buckinghamshire to improve its delivery of special educational needs and disabilities (SEND) services.

The last local area SEND inspection by Ofsted and the Care Quality Commission (CQC) for Buckinghamshire was in March 2022, during which inspectors identified three areas of significant weakness. These areas were:

i) The lack of a cohesive area strategy to identify and meet the needs of those children and young people requiring speech and language, communication and occupational therapy.

ii) Waiting times for assessments on the autism spectrum disorder and attention deficit hyperactivity disorder diagnosis pathways, and the system-owned plans in place to address this.

iii) Waiting times to see a community paediatrician.

Following the inspection, Buckinghamshire produced a Written Statement of Action (WSoA) to address these areas of weakness, which was accepted by Ofsted and CQC. The department’s regional team has put in place systems to track outcomes against these areas of weakness and the progress made by children and young people with SEND, including regular review meetings. At the most recent WSoA review meeting in July 2024, the local area demonstrated progress against the range of actions in place to secure clear and sustained improvement across all the areas of significant weakness. Buckinghamshire is also taking part in the Delivering Better Value (DBV) in SEND Programme.

Nationally, the government is providing schools with extra funding of almost £1.1 billion in this 2024/25 financial year through the new Core Schools Budget Grant (CSBG) to support them with overall costs, including the costs of supporting their pupils SEND. Of this total, special schools and alternative provision settings will be receiving over £140 million through the CSBG.

The additional funding through the CSBG comes alongside high needs funding for services and support for children and young people with complex SEND. Buckinghamshire County Council is receiving a high needs funding allocation of £127.5 million through their 2024/25 dedicated schools grant. Decisions on future funding levels beyond this financial year will be for the forthcoming Spending Review.

Financial education currently forms a compulsory part of the National Curriculum for mathematics (at key stages 1 to 4) and citizenship (at key stages 3 and 4). The primary mathematics curriculum includes arithmetic knowledge that supports pupils’ ability to manage budgets and money, including, for example, calculations with money and percentages. In secondary mathematics, pupils are taught topics such as how to calculate compound interest, which is relevant for personal finance. In citizenship, pupils are taught the function and uses of money, how to budget and manage credit and debt, as well as concepts like insurance, savings and pensions.

High and rising school standards are at the heart of the government’s mission to break down barriers to opportunity and give every child the best start in life. The government‘s ambition is for a broad, rich and cutting-edge curriculum that equips children and young people with the essential knowledge and skills required to thrive as citizens, in work and throughout life. This is why the government announced a Curriculum and Assessment Review on 19 July 2024, chaired by Professor Becky Francis CBE.

The review will be undertaken in close consultation with education professionals and other experts, parents, children and young people, and stakeholders. A call for evidence will be launched in the coming weeks, to direct the focus of engagement with the sector and stakeholders over the autumn term.

Following the independent review, the government will legislate to require all state schools teach the reformed national curriculum. This will give parents certainty over the core of their children’s education.

Applicants to the Farming Innovation Programme are assessed by the Programme’s delivery partner, Innovate UK, on how they address a particular challenge identified by industry (for industry-led partnership competitions) or by Defra (for thematic competitions) following submission of their application. We seek a balanced portfolio approach, which means that funding can be allocated in a way to benefit all farming sectors, while projects are assessed on their individual merit.

The Railways Bill will enable the biggest overhaul of the rail sector in a generation. It will create stronger leadership by establishing Great British Railways as a new ‘directing mind’ for the industry, unifying track and train under a single public body to deliver better services for passengers and customers, and better value for money for taxpayers.

The Government launched an eight-week consultation on 18 February seeking views on the key legislative proposals that will form part of the upcoming Railways Bill.

Services from Bletchley will benefit from the changes set out above, alongside the rest of the network.

Along with East West Rail Company and Network Rail, the Department for Transport is considering the merits of providing an East West Rail link to Aylesbury, and shared both cost information and the results of business case analysis with the local authority. A final decision will be made in due course.

We know that waits for children and young people's mental health services are far too long and that some disadvantaged groups are less likely to access support. That is why the National Health Service’s planning guidance for 2025/26 makes it clear that one of the priorities for children's mental health services is to reduce local inequalities in access to children and young people’s mental health services between disadvantaged groups, including in Buckinghamshire and Milton Keynes, and the wider population.

The Government will also recruit 8,500 additional mental health workers across child and adult mental health services and provide access to specialist mental health professionals in every school through expanding Mental Health Support Teams, so that every young person has access to early support to address problems before they escalate.

Early intervention and prevention support in the community is vital. That is why we are providing £7 million of funding to extend support for 24 Early Support Hubs that have a track record of helping thousands of young people in their community.

We recognise that too many people in places like Buckinghamshire are not receiving the mental health care they need.

The Buckinghamshire, Oxfordshire, Berkshire West Integrated Care Board is responsible for providing health and care services, including community mental health services, to meet the needs of the people of Buckinghamshire.

As part of our mission to build a National Health Service that is fit for the future and that is there when people need it, the Government will recruit an additional 8,500 mental health workers to reduce delays and provide faster treatment which will also help ease pressure on busy mental health services.

There are currently approximately 65 locally-funded early support hubs across England, offering early easy access mental health interventions to thousands of children and young people. The Department is running an £8 million Shared Outcomes Fund project throughout 2024/25 to boost and evaluate the impact of 24 of these existing early support hubs, which includes one based in High Wycombe, Buckinghamshire, run by the Youth Enquiry Service.

In addition, work is ongoing across Government to deliver our commitment to set up Young Futures hubs in every community, offering open access mental health services for young people.

Cutting waiting lists, including for diagnostic tests, is a key priority for the Government. We will provide the number of computed tomography (CT), magnetic resonance imaging (MRI), and other tests that are needed to increase capacity and reduce elective and cancer waits. It is unacceptable that, as of August 2024, 23.9% of patients are waiting over six weeks for a test, against an objective in the 2024/25 Operational Planning Guidance for no more than 5% to wait six weeks.

The Milton Keynes University Hospital NHS Foundation Trust has implemented several initiatives to improve access to diagnostic services and to meet the needs of its growing community. This includes the opening of the Lloyds Court Community Diagnostic Centre (CDC) in Milton Keynes and the Whitehouse Health Centre CDC in Whitehouse, as part of national efforts to bring essential diagnostic services into the local community.

Construction has also commenced for a new three-storey imaging centre at the new Women’s and Children’s Hospital through the New Hospital Programme. This facility will provide a modern central location for several imaging diagnostic services, and will include two MRI scanners, two CT scanners, and a new Ultrasound Department. Locating imaging services in one place will improve efficiency and enhance patient’s experience of the service.

The following table shows information on the agreed mental health waiting time standards relating to the NHS Bedfordshire, Luton and Milton Keynes Integrated Care Board, broken down by the services provided, and compared to their actual performance:

Source: NHS England.

The responsibility for commissioning primary care services, including National Health Service dentistry, to meet the needs of the local population has been delegated to integrated care boards (ICBs) across England. For North Buckinghamshire and Milton Keynes this is the NHS Bedfordshire, Luton and Milton Keynes ICB.

In the years 2023/24, the number of dentists who performed NHS work in the NHS Bedfordshire, Luton and Milton Keynes ICB was 481, which is equivalent to 47.4 dentists per 100,000 population. The average number of dentists per 100,000 at an ICB level in the same period was 49.8 dentists per 100,000 population. This data is published on NHS Business Services Authority, and is available at the following link:

https://www.nhsbsa.nhs.uk/statistical-collections/dental-england/dental-statistics-england-202324

British International Investment's (BII) investments are building markets in partner countries that are stimulating economic growth. This also develops future UK trade and investment opportunities.

BII invest in sectors where it can have the most developmental impact. These tend to also align with areas of UK commercial strength, including financial services, clean energy, and digital. Examples of this modern approach to development include BII's partnership with Standard Chartered Bank which has enabled $10 billion in trade volumes across Africa and Asia since 2013 and BII's partnership with Vodafone that has brought down the cost of mobile services by up to 70 per cent in Ethiopia, and a new £100 million Mobilisation Facility to de-risk institutional investors such as those in the City of London to accelerate climate-focussed investments in developing countries. We will continue to work with BII to focus and maximise the impact of its work in line with our missions and the wider geopolitical situation.

British International Investment's (BII) investment decisions are taken within a framework agreed and aligned with the Government's mission and development objectives. BII is delivering on the Government's ambitions on growth, accelerating the clean energy transition, and unlocking private capital for development impact. In 2023 alone, BII-backed businesses operating in developing countries provided jobs for over one million people, paid $2.4 billion in taxes in partner countries, and generated 59 TWh of electricity.

The Foreign, Commonwealth and Development Office (FCDO) and BII ensure this strategic alignment through governance arrangements that follow best practice guidance from Cabinet Office and HM Treasury with robust lines of accountability between FCDO and BII. We will continue to work with BII to focus and maximise the impact of its work in line with our missions and the wider geopolitical situation.

The Foreign Secretary has tasked the Foreign, Commonwealth and Development Office (FCDO) to use its diplomatic influence to champion the UK economy overseas. Our diplomats will be the sales force for UK plc, working with colleagues from across government to ensure we are attracting investment to the UK. This includes directly working with businesses and partner governments, such as a recent Foreign Secretary hosted business roundtable with senior UK representatives from top Japanese firms who have invested in the UK.

In addition, the National Security and Investment Act (NSI) will also aid the UK's growth ambitions by allowing the Government to intervene in transactions that threaten national security.

Alongside the Chancellor and Secretary of State for Energy Security and Net Zero, I attended World Bank Group Annual Meetings. As my Governor's statement set out, the UK will continue to be a leading contributor to international climate finance, including support for nature and forests and the Bank is a key partner for us. Alongside the Secretary of State, I called on the Bank to play a leading role in setting a new collective MDB climate finance target ahead of COP29. I discussed this with President Banga when he visited today.

The Government offers four tax-advantaged employee share schemes, which all enable employers to offer their employees tax-advantaged shares or share options in their business. These are Save as You Earn (SAYE), Share Incentive Plan (SIP), Enterprise Management Incentives (EMI), and Company Share Option Plan (CSOP). These schemes are popular, generous and internationally competitive.

A call for evidence on SAYE and SIP ran from June to August 2023. It sought views on whether the schemes are meeting their policy objectives and opportunities to improve and simplify them. The Government is considering the responses to the call for evidence, and is grateful to those who took the time to respond.

In 2021-22, a review of the EMI scheme found that the scheme remained effective at achieving its policy aims, including employee retention. The review was expanded to consider if CSOP should be reformed to further support companies as they grow beyond the scope of EMI. Following this report, CSOP limits were expanded from April 2023.

The Government keeps all tax reliefs under review, to ensure they continue to meet their policy objectives in a way that is fair and effective. HMRC release annual statistics on the tax-advantaged employee share schemes, which can be found at GOV.UK here: https://www.gov.uk/government/statistics/employee-share-scheme-statistics

The Government offers four tax-advantaged employee share schemes, which all enable employers to offer their employees tax-advantaged shares or share options in their business. These are Save as You Earn (SAYE), Share Incentive Plan (SIP), Enterprise Management Incentives (EMI), and Company Share Option Plan (CSOP). These schemes are popular, generous and internationally competitive.

A call for evidence on SAYE and SIP ran from June to August 2023. It sought views on whether the schemes are meeting their policy objectives and opportunities to improve and simplify them. The Government is considering the responses to the call for evidence, and is grateful to those who took the time to respond.

In 2021-22, a review of the EMI scheme found that the scheme remained effective at achieving its policy aims, including employee retention. The review was expanded to consider if CSOP should be reformed to further support companies as they grow beyond the scope of EMI. Following this report, CSOP limits were expanded from April 2023.

The Government keeps all tax reliefs under review, to ensure they continue to meet their policy objectives in a way that is fair and effective. HMRC release annual statistics on the tax-advantaged employee share schemes, which can be found at GOV.UK here: https://www.gov.uk/government/statistics/employee-share-scheme-statistics

The Government offers four tax-advantaged employee share schemes, which all enable employers to offer their employees tax-advantaged shares or share options in their business. These are Save as You Earn (SAYE), Share Incentive Plan (SIP), Enterprise Management Incentives (EMI), and Company Share Option Plan (CSOP). These schemes are popular, generous and internationally competitive.

A call for evidence on SAYE and SIP ran from June to August 2023. It sought views on whether the schemes are meeting their policy objectives and opportunities to improve and simplify them. The Government is considering the responses to the call for evidence, and is grateful to those who took the time to respond.

In 2021-22, a review of the EMI scheme found that the scheme remained effective at achieving its policy aims, including employee retention. The review was expanded to consider if CSOP should be reformed to further support companies as they grow beyond the scope of EMI. Following this report, CSOP limits were expanded from April 2023.

The Government keeps all tax reliefs under review, to ensure they continue to meet their policy objectives in a way that is fair and effective. HMRC release annual statistics on the tax-advantaged employee share schemes, which can be found at GOV.UK here: https://www.gov.uk/government/statistics/employee-share-scheme-statistics