Question to the Department for Business, Innovation, Science and Trade:
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of the potential economic impact of the proposed EU Industrial Accelerator Act on UK automotive and chemicals exports.
My department is looking closely at the proposed measures in the EU’s Industrial Accelerator Act and is engaging with industry leaders and the EU institutions. The UK and EU have highly integrated industrial ecosystems, particularly in the automotive and chemicals sectors, with supply chains that support manufacturing, investment and growth across both markets. We will continue to assess the potential economic impacts for the UK chemical and automotive sectors while the proposal progresses through the EU’s legislative system.