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 Autumn Budget 2024 on the (a) maritime and (b) shipbuilding sectors.

This Budget is focused on delivery of the government’s Growth Mission and the development and delivery of the government’s modern Industrial Strategy. The creation of the National Wealth Fund, catalysing over £70bn of private investment, will potentially benefit the maritime sector, where at least £5.8bn of NWF’s capital will focus on the five sectors announced in the manifesto, including ports. Shipbuilding supports 42,600 jobs nationwide and adds £2.4 billion to the economy every year and Government is committed to supporting vibrant and successful enterprises, and the skilled workforce who deliver them, in all parts of the UK.