Asked by: Sarah Gibson (Liberal Democrat - Chippenham)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether he plans to consult stakeholders on (a) alignment with international reporting standards and (b) the potential impact on companies as part of the first two UK Sustainability Reporting Standards, expected in Q1 2025.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government will shortly publish a consultation covering the endorsement of International Sustainability Standards Board (ISSB) Standards. It will seek views on UK versions of the ISSB Standards, which will be known as UK Sustainability Reporting Standards, including on the costs and benefits of reporting against those Standards. The Government will take endorsement decisions later this year, following the consultation.
Asked by: Sarah Gibson (Liberal Democrat - Chippenham)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what criteria his Department is using to identify the most critical (a) subsectors and (b) technologies within the eight priority sectors outlined in the UK’s Modern Industrial Strategy.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
There is no single 'best' way to identify the most critical subsectors and technologies, so the Government has used a range of quantitative and qualitative evidence and judgement. We have considered metrics which relate to the Industrial Strategy's objectives of delivering sustainable, inclusive, and resilient growth and boosting business investment, such as wages, productivity, and the UK's international position to identify our current and emerging strengths. We have combined this with engagement with experts and stakeholders, including the Industrial Strategy Green Paper consultation, and multiple data sources. Further detail will be provided in the upcoming White Paper.
Asked by: Sarah Gibson (Liberal Democrat - Chippenham)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what plans his Department has to incentivise employer investment in workforce training and upskilling as part of the Invest 2035 strategy.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Industrial Strategy Green Paper is clear that the people that create and work in businesses will be central to the success of the growth-driving sectors and clusters. The government is developing proposals to ensure that the current and future skills system supports employers to invest in and develop a skilled workforce, and has already taken steps to support this, including establishing Skills England and reforming the existing apprenticeship offer into a Growth and Skills levy-funded offer which will provide greater flexibility for both employers and learners. We will set out further detail in the forthcoming Industrial Strategy.
Asked by: Sarah Gibson (Liberal Democrat - Chippenham)
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 align the UK’s Modern Industrial Strategy with economic strategies developed by devolved Administrations.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Industrial Strategy will unleash the full potential of our cities and regions by attracting investment and creating the best environment for businesses in them to thrive
My officials are working with the devolved governments on how we can drive growth across the UK within the context of our Industrial Strategy. This includes regular ministerial engagement through the Interministerial Group for Business & Industry. This partnership will help make the Industrial Strategy a UK-wide effort and support the sectoral strengths and growth-driving clusters in all four nations.
Asked by: Sarah Gibson (Liberal Democrat - Chippenham)
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 a minerals trade deal between the US and Ukraine on the UK’s Critical Minerals Strategy.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
A secure supply of critical minerals is vital for the UK's economic growth and security, Industrial Strategy, and clean energy transition. The Department for Business and Trade will publish a new Critical Minerals Strategy this year that will set out the Government’s refined approach including on international partnerships.
The UK is committed to collaborating with Ukraine on critical minerals through our 100 Year Partnership agreement to support the development of a Ukrainian Critical Minerals Strategy.
Asked by: Sarah Gibson (Liberal Democrat - Chippenham)
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 a minerals trade deal between the US and Ukraine.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
A secure supply of critical minerals is vital for the UK's economic growth and security, Industrial Strategy, and clean energy transition. The Department for Business and Trade will publish a new Critical Minerals Strategy this year that will set out the Government’s refined approach including on international partnerships.
The UK is committed to collaborating with Ukraine on critical minerals through our 100 Year Partnership agreement to support the development of a Ukrainian Critical Minerals Strategy.