Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to improve access to finance for small and medium-sized businesses in Buckingham and Bletchley constituency.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
The British Business Bank's finance programmes, including the Start Up Loans scheme, help SMEs in Buckingham and Bletchley to access the finance they need.
Together with the Treasury, my department launched a call for evidence on SME access to finance to assess existing policies and identify barriers. The call aims to improve access to finance and support SME growth. We are considering the responses we have received and will announce further measures in due course.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to assess the investment risk environment for firms seeking to operate in African growth markets.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
The Department for Business and Trade works across Africa offering direct support to UK businesses looking to expand their business in the region. This includes a dedicated team that advises UK businesses entering markets about doing business and investment environment. DBT focuses on markets, sectors, and deals where the UK has a competitive edge.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the effectiveness of UK-India trade talks in supporting advanced manufacturing.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The UK-India FTA is estimated to increase bilateral trade by £25.5 billion, and UK GDP by £4.8 billion each and every year in the long term.
As part of this agreement, India will cut tariffs on a number of advanced manufacturing goods such as automotives, electrical circuits, high-end optical products, and medical devices.
We will set out further information on the sectoral impacts of this agreement in our Impact Assessment.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to support investment into key growth sectors through the UK-Gulf economic partnerships.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
The Department for Business and Trade maintains strong relations with Gulf investors and encourages them towards opportunities in key growth sectors through the Strategic and Sovereign Investment partnerships coordinated by the Office for Investment.
We also encourage investment through broader diplomatic forums, such as the UK-Saudi Strategic Partnership Council.
Furthermore, we are negotiating a GCC Free Trade Agreement that will build on our strong investment relationship and support further investment, including in UK growth sectors.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of the UK-New Zealand trade agreement on SME exporters located in (a) Buckinghamshire and (b) Milton Keynes.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
The UK-New Zealand FTA benefits every region of the UK including Buckinghamshire and Milton Keynes. It also includes commitments to support SMEs to trade, including through a standalone SME chapter.
Data is not collected centrally on the impact of the UK-New Zealand trade agreement on SME exporters located in Buckinghamshire and Milton Keynes. However, since entry into force, there are early indications of positive uptake of the agreement’s benefits by British exporters. According to official data from New Zealand, between June 2023 and Dec 2024 £164.2m (80.7%) of goods imports into New Zealand from the UK used preferential tariffs. Had these occurred at standard Most Favoured Nation (MFN) tariff rates, they could have encountered an additional £9.3m in duties.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure regional access to investment under the UK-UAE Investment Partnership.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
As part of the UK-UAE Sovereign Investment Partnership, the Office for Investment has worked with Emirati investors to explore investment opportunities across the UK and UAE investment can be found across the UK, driving growth and prosperity across key sectors to the mutual benefit of both countries.
These investments include offshore wind in Scotland and advanced material research in North-West England. An expanded Office for Investment is working to make the UK the first choice for investment and the best place in the world to do business, turning regional growth plans into clear and commercially credible pipelines of investment opportunities.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of the Qatar Investment Authority's Strategic Investment Partnership on the clean energy sector in the UK.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The 2022 Qatar-UK Strategic Investment Partnership is a long-term framework through which the two countries collaborate across a number of key UK industries, creating jobs and growth through investment, including in sectors vital for clean growth and decarbonisation through technology and innovation. December 2024’s announcement from Qatar to invest £1bn in UK climate technology demonstrates the strength of the arrangement’s potential impact.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to support businesses in the Buckingham and Bletchley constituency to benefit from the UK-Japan strategic partnership.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
The Government is taking forward a new Industrial Strategy Partnership with Japan to support all UK businesses, including those from Buckingham and Bletchley through joint initiatives in innovation, clean energy, and advanced manufacturing and furthering our economic security partnership in support of growth, jobs and access to essential goods and services needed for the UK's future prosperity.
The Government is also supporting businesses in taking advantage of the UK-Japan Comprehensive Economic Partnership Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in a variety of ways, from online export guidance to events with local chambers and trade associations.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department has taken to increase trade and investment opportunities for food and drink producers in Buckinghamshire.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade has significantly increased trade and investment opportunities for food and drink producers through several trade agreements, including the UK-EU Trade and Cooperation Agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the UK-India Free Trade Agreement. These agreements will open new export markets for businesses in Buckinghamshire and across the UK.
Businesses can also benefit from the expanded Office for Investment, which will make it easier for top investors to work with government with the ability to originate and execute major deals, develop commercially attractive investment propositions in partnership with local political leaders and market the UK to investors around the world.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what data his Department holds on lending approval rates for SMEs applying for finance to invest in (a) technology, (b) commercial premises and (c) workforce training since 2022.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
Earlier this year, DBT launched a call for evidence on access to finance to better understand the barriers that SMEs experience when applying for loans. However, currently available results from the SME Finance Monitor provides the following data on SMEs needing funding for R&D and new premises:
Source: SME Finance Monitor 2024 and 2022