Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps his Department plans to take to ensure value for money from additional funding allocated to the automotive sector in the next five years.

The Budget committed over £2bn to 2030 for zero-emission vehicle manufacturing and their supply chains. This will build on the current Automotive Transformation Fund (ATF) and Advanced Propulsion Centre (APC) programmes to drive economic growth and support high-value jobs, unlocking billions of pounds of private investment in the UK’s automotive industry and R&D innovation ecosystem.

As with the ATF and APC programmes, all future investment will be fully assessed on a strategic, technical, commercial, financial and economic basis – including consideration of future job creation. The economic assessment ensures value for money is consistent with HMT Green Book best practice.