Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what key performance indicators his Department plans to use to measure the success of the Office for Investment; and how these differ from key performance indicators outlined at the launch of the Office.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Office for Investment (OfI) is focusing on building and converting a pipeline of significant investments opportunities, delivering economic growth and strategic government priorities. This was also the focus of the OfI when originally launched in 2020 but there is now a greater expectation on the number of significant opportunities that will be supported.
As demonstrated in the DBT Inward Investment Results 2024-25, DBT and OfI measure and report on several aspects of investments supported by the government’s investment promotion service including Gross Value Add (GVA) and jobs created outside of London and the South East.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to his Department's press release entitled Record-breaking International Investment Summit secures £63 billion and nearly 38,000 jobs for the UK, published on 14 October 2024, what the regional breakdown is of those jobs.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The figures released as part of the International Investment Summit last autumn are aggregate values of investment plans from several multi-national enterprises. The Office for Investment does not hold information from companies on the regional breakdown of their job proposals in their investment plans.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what the value was of inward investment deals for the Office of Investment in (a) October 2024 and (b) June 2025.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Office for Investment (OfI) facilitates high-value, strategically important inward investment into the UK. As a dedicated concierge service, it provides a seamless journey for investors, unlocking high-impact opportunities and accelerating delivery of the government’s growth priorities.
Recently expanded to enhance its capabilities, the OfI played a pivotal role in securing the £63 billion announced at the International Investment Summit in October 2024. Since then, it has helped attract billions more across key Industrial Strategy sectors, including from Universal, Vishay, Vantage, Knauf, Rheinmetall, and Lendlease.
A full list of companies cannot be disclosed due to commercial sensitivities.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, which businesses have used the Office for Investment since October 2024.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Office for Investment (OfI) facilitates high-value, strategically important inward investment into the UK. As a dedicated concierge service, it provides a seamless journey for investors, unlocking high-impact opportunities and accelerating delivery of the government’s growth priorities.
Recently expanded to enhance its capabilities, the OfI played a pivotal role in securing the £63 billion announced at the International Investment Summit in October 2024. Since then, it has helped attract billions more across key Industrial Strategy sectors, including from Universal, Vishay, Vantage, Knauf, Rheinmetall, and Lendlease.
A full list of companies cannot be disclosed due to commercial sensitivities.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what the conversion success rate for inward investment deals managed by the Office for Investment is since October 2024.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Office for Investment (OfI) facilitates high-value, strategically important inward investment into the UK. As a dedicated concierge service, it provides a seamless journey for investors, unlocking high-impact opportunities and accelerating delivery of the government’s growth priorities.
Recently expanded to enhance its capabilities, the OfI played a pivotal role in securing the £63 billion announced at the International Investment Summit in October 2024. Since then, it has helped attract billions more across key Industrial Strategy sectors, including from Universal, Vishay, Vantage, Knauf, Rheinmetall, and Lendlease.
A full list of companies cannot be disclosed due to commercial sensitivities.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether his Department has made an assessment of the potential impact of the UK-US trade deal on the energy sector.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
On 16 June, we announced concrete progress towards the implementation of the UK-US trade deal as agreed on 8 May. We continue to work closely with the energy sector to understand the impacts of the UK-US trade deal.
The government is committed to supporting the UK’s energy sector, including through our Industrial Strategy in which Clean Energy Industries is one of the eight growth sectors.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether his Department plans to issue embargoed copies of the industrial strategy.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Industrial Strategy will be published shortly, and the department is currently finalising plans for publication.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential implications for his policies of the research published by IoD entitled IoD research finds employment law reforms will damage UK economic growth, published on 6 June 2025.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
My department has published a set of Impact Assessments that provide a comprehensive analysis on the potential impact of the Employment Rights Bill. This analysis includes con-sideration of impacts on economic growth. This analysis is available at: https://www.gov.uk/guidance/employment-rights-bill-impact-assessments
This represents the best estimate for the likely impacts, including on economic growth, given the current stage of policy development. We are refining our analysis as policy development continues, working closely with external experts, businesses and trade unions.
The department regularly meets with the Institute of Directors to discuss a range of policies included in the Employment Rights Bill and, as with all stakeholders, we value the insight they provide.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what budget was allocated to the Office for Investment in the spending review 2025.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
£3.8 billion was allocated to The Department for Business and Trade as part of the Spending Review, which includes funding for the Office for Investment (OfI). As set out previously, (9th June), the OfI's budget for FY 2025/6 is £24,671,291.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 2 June 2024 to Question 53498 on the Office for Investment, what the budget is of the expanded Office for Investment.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The budget for the Office for Investment (OfI) for FY 2025/6 is £24,671,291.