Question to the Department for Business, Innovation, Science and Trade:

To ask the Secretary of State for Business and Trade, what steps he is taking to support manufacturers to increase capital intensity.

Last year this government published our Modern Industrial Strategy, setting out our long-term approach to strengthening domestic capability. The complimentary Advanced Manufacturing Sector Plan outlines both sector-specific and cross-cutting measures designed to support manufacturers grow and thrive – including on skills, access to finance and tech adoption. This is underpinned by £4.3 billion government funding over 5 years, alongside £4 billion from the British Business Bank Industrial Strategy Growth Capital and £27.8 billion available from the National Wealth Fund to help manufacturing business access the finance they need to expand.

We have also enhanced and expanded the Office for Investment to target advanced manufacturing investors.