Asked by: Lord Taylor of Warwick (Non-affiliated - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of the impact of workplace financial wellbeing companies on financial inclusion.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government recognises that employers can play an important role in supporting the financial wellbeing of their employees. The Financial Inclusion Strategy seeks to support employers who want to build the financial resilience of their workforce.
Payroll savings schemes are identified in the Strategy as a specific, impactful step employers can take to achieve this goal. The Strategy outlines the Government’s work with the Financial Conduct Authority to provide greater regulatory clarity to employers, so they can offer these schemes with confidence. The Money and Pensions Service is also working with Nest Insight and The Investing and Savings Alliance on the launch of a National Coalition of Employers to encourage uptake among firms.
Asked by: Lord Bishop of Norwich (Bishops - Bishops)
Question to the Department for Environment, Food and Rural Affairs:
To ask His Majesty's Government, following the report National security assessment on global ecosystems, published on 20 January, what plans they have to prioritise the protection and restoration of ecosystems, particularly those that support the UK food system.
Answered by Baroness Hayman of Ullock - Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
The UK is taking action to strengthen resilience to environmental risks at home and overseas, investing in forest and ocean protection and supporting the transition to more sustainable food and land use globally.
This includes strengthening supply chain resilience through the Critical Imports and Supply Chains Strategy and supporting sustainable agriculture globally through International Climate Finance (ICF) investments. The UK is on track to deliver £11.6 billion in ICF by the end of FY25/26, of which £3 billion should be Nature finance.
The Government has also recently published the revised Environmental Improvement Plan, which will help us to restore nature, improve environmental quality, and protect environmental security. Furthermore, our Food Strategy calls for action that will reduce the impact of our food system on the natural environment and build sustainability and resilience into our food supply chain. Together with our Farming Roadmap and Land Use Framework, we will enhance UK food security by protecting and stabilising food production and supply; and accelerate the green financial transition to drive economic growth at home and abroad.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she has taken to ensure UK firms are impacted the designation of the Bank of China’s London Branch as the UK’s second renminbi clearing bank.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the outcomes of the UK-China Financial Working Group on UK-China trade flows.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the agreements from the first UK-China Financial Working Group in Beijing on UK financial services.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help ensure regulatory co-operation with China does not impact on UK standards in financial supervision.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what mechanisms she will use to monitor the implementation of agreements reached on innovative biodiversity financing with China.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment he has made of how export credit support affects business resilience to global economic shocks.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The recently published report by Oxford Economics, Analysing UKEF-Supported Supply Chains (which is available online at: Research and Analysis: Analysing UKEF-supported supply chains - GOV.UK), shows that in the last five years, deals supported by UK Export Finance (UKEF), the UK’s export credit agency, were responsible for £23 billion gross value added contributions to the UK economy, and supported an average of up to 66,000 jobs per annum. That report also showed that the supply chains of the businesses directly supported by UKEF include 115,000 businesses around the UK.
In April 2025, the Chancellor of the Exchequer announced an expansion of UKEF’s support to bolster the resilience of British businesses. This included increasing its financial capacity by £20 billion, to £80 billion, and targeting £10 billion of that to support firms that had been impacted by uncertainties in the world economy, including the new tariff environment.
Further information about the nature and extent of UKEF’s support is available in the Annual Report and Accounts, available online at: UK Export Finance annual reports and accounts - GOV.UK.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
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 contribution of export credit to the UK economy over the last five years.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The recently published report by Oxford Economics, Analysing UKEF-Supported Supply Chains (which is available online at: Research and Analysis: Analysing UKEF-supported supply chains - GOV.UK), shows that in the last five years, deals supported by UK Export Finance (UKEF), the UK’s export credit agency, were responsible for £23 billion gross value added contributions to the UK economy, and supported an average of up to 66,000 jobs per annum. That report also showed that the supply chains of the businesses directly supported by UKEF include 115,000 businesses around the UK.
In April 2025, the Chancellor of the Exchequer announced an expansion of UKEF’s support to bolster the resilience of British businesses. This included increasing its financial capacity by £20 billion, to £80 billion, and targeting £10 billion of that to support firms that had been impacted by uncertainties in the world economy, including the new tariff environment.
Further information about the nature and extent of UKEF’s support is available in the Annual Report and Accounts, available online at: UK Export Finance annual reports and accounts - GOV.UK.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how UK Export Finance measures the economic impact of its support across domestic supply chains.
Answered by Chris Bryant - Minister of State (Department for Business and Trade)
The recently published report by Oxford Economics, Analysing UKEF-Supported Supply Chains (which is available online at: Research and Analysis: Analysing UKEF-supported supply chains - GOV.UK), shows that in the last five years, deals supported by UK Export Finance (UKEF), the UK’s export credit agency, were responsible for £23 billion gross value added contributions to the UK economy, and supported an average of up to 66,000 jobs per annum. That report also showed that the supply chains of the businesses directly supported by UKEF include 115,000 businesses around the UK.
In April 2025, the Chancellor of the Exchequer announced an expansion of UKEF’s support to bolster the resilience of British businesses. This included increasing its financial capacity by £20 billion, to £80 billion, and targeting £10 billion of that to support firms that had been impacted by uncertainties in the world economy, including the new tariff environment.
Further information about the nature and extent of UKEF’s support is available in the Annual Report and Accounts, available online at: UK Export Finance annual reports and accounts - GOV.UK.