Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to encourage international investment across the UK.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
Attracting investment is one of the key pillars to the Government’s growth mission and is vital to helping address the challenge of achieving sustained growth, improving productivity and increasing the number of good, well-skilled jobs across the country. At the International Investment Summit, we secured £63bn worth of investments across the whole of the UK, creating nearly 38,000 jobs. On top of this we have launched Invest 2035, our vision for a modern Industrial Strategy “Invest 2035”: a credible, 10-year plan to deliver the certainty and stability businesses need to invest.
As an example of the many steps we are taking to encourage investment, we have today (12th November) launched the Clean Industries Bonus which will encourage investment in renewable energy projects.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
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 impact of trends in the level of interest rates on SMEs.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
For SMEs that pay interest at a variable rate, or those contemplating new borrowing, lower interest rates are clearly beneficial.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether his Department supports the use of Compulsory Licences to gain access to medicines (a) generally and (b) by Columbia for access to dolutegravir.
Answered by Douglas Alexander - Minister of State (Department for Business and Trade)
The Government supports the Doha Declaration on Trade-Related Aspects of Intellectual Property Rights (TRIPS) and Public Health and, within that, a country’s right to use compulsory licensing, where necessary and appropriate, to achieve public health policy objectives in the case of national health emergencies. We are aware of the potential impact such initiatives may have on access to medicines, market dynamics, and innovation. We are closely following the process undertaken by Colombia and are in regular dialogue with them on this and other regulatory matters.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
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 for abuse of voluntary insolvencies.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
In recent years the Government has commissioned research covering both corporate and personal voluntary insolvency processes. In 2022 the company voluntary arrangement research report was published and on 17 October 2024 the research findings into Individual Voluntary Arrangements (IVAs) was published. Further research into corporate voluntary insolvency processes will be published later this year. The Government will be considering the findings of this research, and along with other evidence, may bring forward proposals for reform in due course.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will extend export support programmes for civil maritime sector participation in international trade shows.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
This year, the Department for Business and Trade (DBT) has already supported UK maritime firms at Asia Pacific Maritime (Singapore), Posidonia (Athens), and SMM (Hamburg). Other upcoming events include METSTRADE, which will be taking place in Amsterdam this November, as well as Sea Asia in March. UK businesses can access DBT’s export services via Great.gov.uk, including the UK Export Academy, International Trade Advisers, Help to Grow, and the Export Support Service.
DBT will continue to review its offer to ensure businesses have the support they need to export and grow.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to support manufacturing in the UK.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
This government wants to drive manufacturing growth. Manufacturing makes an important contribution to private capital, R&D, and exports, which leads to higher productivity, more investment and more jobs.
Building on existing support to industry, government will introduce a new Industrial Strategy to drive long-term sustainable, inclusive and secure growth - through securing investment into crucial sectors of the economy.
As announced in the Industrial Strategy Green Paper published on 14 October, advanced manufacturing has been selected as one of eight growth-driving sectors. The Strategy will also look at support for subsectors which provide critical inputs and infrastructure to these sectors.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what plans he has to increase employee protection from unfair dismissal.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government introduced the Employment Rights Bill in the House on 10 October 2024.
The Bill will make basic protection against unfair dismissal a day one right for all employees, ending the current arbitrary system that leaves employees waiting up to two years to access this right.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether the provisions of the proposed Employment Rights Bill will extend to Northern Ireland.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government is committed to delivering its Plan to Make Work Pay in full. Ministers are identifying the most appropriate delivery mechanisms for the commitments in the Plan, including an Employment Rights Bill that will be introduced to Parliament within 100 days of taking office.
The scope of the Bill is still to be determined and engagement continues with stakeholders with an interest in this legislation. This includes all Devolved Governments including the Northern Ireland Executive. The Plan is a core part of the Government’s mission to grow the economy and raise living standards across the country.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to increase inward investment in Northern Ireland.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
My department is working in partnership with Invest Northern Ireland through DBT’s Trade and Investment hub in Belfast and its wider global network to showcase NI as a location for investment.
We are focused on driving investment into all parts of the UK, including through our forthcoming International Investment Summit in October 2024.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what discussions he has had with the Department for the Economy on protecting small businesses in Northern Ireland.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
DBT Ministers have engaged with the Northern Ireland Executive since assuming office, including productive meetings and correspondence at SoS and Minister of State level as well as detailed and ongoing official level dialogue regarding the interests of Northern Ireland Executive and businesses in Northern Ireland in the UK Government growth agenda.