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, whether his Department plans to review the Office for Investment's strategy.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Office for Investment is a small joint unit between 10 Downing Street and the Department for Business and Trade (DBT), the department responsible for investment into the UK. It is a delivery-focused team whose strategic objectives are fully aligned with those of DBT. It was established to increase the UK’s chances of landing the most strategically important investments. It works alongside teams from DBT, the UK’s international network, and other departments, providing an additional level of support for a handful of high-value projects which are particularly complex and require cross-government convening to unblock barriers.
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 steps the Office for Investment has taken to build and strengthen international partnerships that promote inward investment to the UK.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Government’s international investment partnerships will be crucial for driving economic growth in the UK. The Office for Investment continues to work with teams in the Department for Business and Trade and other departments across government to amplify opportunities for collaboration and the pursuit of shared goals through these partnerships, where stability, predictability, and trust are key. The International Investment Summit on 14 October will be a significant next step to deliver this message to our existing and potential new partners.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to increase inward investment in Northern Ireland.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
My department is working in partnership with Invest Northern Ireland through DBT’s Trade and Investment hub in Belfast and its wider global network to showcase NI as a location for investment.
We are focused on driving investment into all parts of the UK, including through our forthcoming International Investment Summit in October 2024.
Asked by: Paul Davies (Labour - Colne Valley)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to help increase exports to European countries from (a) Colne Valley constituency and (b) West Yorkshire.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade is committed to boosting UK exports to the EU. UK businesses, including those in Colne Valley & West Yorkshire, can access our export support via Great.gov.uk. This comprises a digital self-serve offer and our wider network of support, including Export Champions, the Export Academy, our International Markets network, and UK Export Finance. Alongside this, our international trade advisers provide one-to-one tailored support to businesses across the UK.
We will also continue work with the EU to improve the UK’s trade and investment relationship and reduce unnecessary barriers to trade, in order to help British and EU businesses thrive.
Asked by: Adam Jogee (Labour - Newcastle-under-Lyme)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether he has had discussions with his South African counterpart since his appointment.
Answered by Anneliese Dodds - Minister of State (Foreign, Commonwealth and Development Office)
South Africa is a critical partner for the UK, whom we engage regularly at senior official and Ministerial level. The UK and South Africa have a deep and longstanding partnership based on shared values. We are working together to promote democratic principles and human rights for all as well as partnering to deliver economic growth and building a more climate resilient world.
On July 16, Lord Collins attended a Westminster Abbey service marking thirty years since the end of Apartheid and met with South African Foreign Minister Ronald Lamola. The Foreign Secretary then welcomed Foreign Minister Lamola as the first international guest of his tenure. They discussed the broad range of cooperation between the UK and South Africa across shared priorities on trade and investment, economic growth, addressing climate change, and ensuring security. The Foreign Secretary looks forward to future discussions with Foreign Minister Lamola.
Asked by: Neil O'Brien (Conservative - Harborough, Oadby and Wigston)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how much his Department spent on communications in the latest year for which data is available.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Department for Business and Trade (DBT), including spend by predecessor Department for International Trade (DIT), spent £24,299,000 on communications in financial year 2022-2023 as reported in the Department’s annual report and accounts, available on GOV.UK.
This spend has supported DBT’s strategic efforts to promote the UK’s international trade agenda and achievements, position it as a destination for inward investment, and boost export promotion.
Asked by: Martin Vickers (Conservative - Brigg and Immingham)
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.
Answered by Tulip Siddiq - Economic Secretary (HM Treasury)
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.
Asked by: Andrew Rosindell (Conservative - Romford)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to support the shipbuilding industry.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
The Government is committed to delivering a thriving shipbuilding sector across the UK, supporting the whole supply chain, from design to repair, systems and integration.
My Department, working alongside other Government Departments, is supporting a 30-year pipeline of shipbuilding projects, promoting UK export and investment at a wide range of international tradeshows and missions throughout the year.
Our long term industrial strategy will support sectors like shipbuilding by offering the certainty needed to attract investment.
Asked by: Adam Jogee (Labour - Newcastle-under-Lyme)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what plans he has to promote economic cooperation between the United Kingdom and Zimbabwe.
Answered by Anneliese Dodds - Minister of State (Foreign, Commonwealth and Development Office)
The Foreign Secretary is putting growth at the heart of our foreign policy making, including improving relationships with the fastest growing markets of the future across the Global South. Trade between Zimbabwe and the UK was worth £633 million in 2023 and increasing economic growth between the UK and Zimbabwe is a top priority for our Embassy in Harare. We are pursuing this through a range of channels, including by supporting UK businesses to enter and navigate the Zimbabwean market and engaging with firms interested in the mining, horticulture, renewable energy and wider sustainability sectors. On 10 July, the UK's development finance institution, British International Investment, signed an agreement to invest $10 million in a Zimbabwean bank, for lending to the agriculture sector.
Asked by: Adam Jogee (Labour - Newcastle-under-Lyme)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether he plans to re-schedule the UK-African Investment Summit.
Answered by Anneliese Dodds - Minister of State (Foreign, Commonwealth and Development Office)
The UK-African Investment Summit, due to take place in April 2024, was postponed owing to scheduling issues in the international calendar.
The UK is committed to reconnecting with African countries, listening to our African partners and putting trade and growth at the heart of our partnerships. This includes working with South Africa next year under their G20 Presidency.