Asked by: Michael Wheeler (Labour - Worsley and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether companies in the UK plastics manufacturing sector will be eligible for inclusion in the British Industrial Competitiveness Scheme.
Answered by Chris McDonald - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
As set out in the Industrial Strategy, the British Industrial Competitiveness Scheme will support eligible manufacturing frontier industries within ‘IS-8’ manufacturing sectors and manufacturing foundational industries that provide key inputs to those frontier sectors, subject to meeting a threshold of electricity intensity. The Department for Business and Trade has recently launched a consultation outlining the proposed methodology for identifying eligible businesses within these parameters. The consultation document includes an indicative list of eligible industries.
Asked by: Michael Wheeler (Labour - Worsley and Eccles)
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 EU’s Clean Industrial Deal State Aid Framework on the competitiveness of UK manufacturers exporting to the EU.
Answered by Chris McDonald - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
As with other relevant EU regulations, the Department for Business and Trade is monitoring the EU’s Clean Industrial State Aid Framework (CISAF) and its impact on British businesses including UK manufacturers exporting to the EU. The government is using TCA structures and informal channels to ask questions and where necessary raise concerns about new EU regulations. During this year's annual Level Playing Field Trade Specialised Committee, the UK raised the CISAF and its impact on Third Countries with the EU.
Asked by: Michael Wheeler (Labour - Worsley and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will publish the methodology for the British Industrial Competitiveness Scheme.
Answered by Chris McDonald - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The Department of Business and Trade recently launched a consultation on the proposed approach to eligibility for the British Industrial Competitiveness Scheme. The final approach to eligibility will be published in due course following the consultation’s closure in January.
Asked by: Michael Wheeler (Labour - Worsley and Eccles)
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 merits of requiring organisations to provide information on (a) staff turnover and (b) workforce changes in corporate reporting.
Answered by Kate Dearden - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government is currently reviewing the UK’s corporate reporting framework. The aim of the review is to simplify and streamline reporting requirements to ensure reporting is focussed on providing decision-useful information to investors and creditors. The Government has no plans to introduce new reporting in relation to workforce planning and staff turnover. The International Sustainability Standards Board (ISSB) is conducting research on the merits of an international corporate reporting standard on human capital-related issues. This research will inform the ISSB’s plan to develop future standards and the Government will consider any standard the ISSB develops in due course.
Asked by: Michael Wheeler (Labour - Worsley and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether his Department is taking steps to help small businesses respond to the payment of delayed invoices by larger businesses.
Answered by Gareth Thomas
In September 2024 we announced a package of measures to help ensure small businesses are paid promptly by the large businesses they supply.
This included the newly launched Fair Payment Code by the Small Business Commissioner, and upcoming legislation to require that large companies include payment performance reporting headlines within their annual reports.
We will soon launch a public consultation on further measures to address late payments and long payment terms, including strengthened powers for the Small Business Commissioner.
Asked by: Michael Wheeler (Labour - Worsley and Eccles)
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 delayed invoice payments on (a) self-employed individuals, (b) sole traders and (c) small businesses in the construction industry.
Answered by Sarah Jones - Minister of State (Home Office)
Smart Data Foundry research shows that small businesses, including those in the construction industry were owed on average an estimated £22,000 in late payments in 2022. This represents a significant cash flow challenge for small businesses, undermining opportunities to invest and innovate.
In September 2024 we announced a package of measures to help ensure small businesses and the self-employed are paid promptly to improve the resilience of supply chains and boost economic growth across the UK.
We will soon launch a public consultation on further measures to address late payments and long payment terms, including specific measures to address the construction contractual practice of retention payments.
Source: Smart Data Foundry (2022) – Payment Speed and Timeliness for UK Small & Micro Businesses – https://smartdatafoundry.com/resources/news/payment-speed-and-timeliness-for-uk-small-and-micro-businesses