Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what fiscal steps she is taking to help attract foreign direct investment into green industries in the (a) Humber and (b) UK.

The Treasury will continue to develop policy that supports investment in partnership with business. Investment is at the heart of this Government’s growth mission and essential to increasing the number of jobs and improving productivity across the country. The Department for Business and Trade has a dedicated investment function in the UK and overseas, including the Office for Investment.

The Government is taking forward the reforms necessary to ensure foreign investors have the support needed to invest. This includes setting up new institutions such as Great British Energy, which will combine the power of the private sector and government to accelerate the UK’s clean energy transition, and the National Wealth Fund which will mobilise billions more in private investment in the UK’s green and growth sectors.

The Chancellor will set out more detail on the National Wealth Fund ahead of the International Investment Summit in October.