Industry and Exports (Financial Assistance) Bill 2025-12-15

Condemns the lack of a fund for ceramics companies in Stoke-on-Trent to help with costs associated with exporting. Requests that the Minister looks into this issue.

Welcomes the Bill and asks if it could do more for small and medium-sized enterprises, particularly in engineering, in Northern Ireland.

Concerned about state aid rules affecting businesses in Northern Ireland under the Windsor framework. Asks for an assurance that a bus manufacturer will not be disadvantaged by these rules compared to competitors elsewhere in the UK.

Highlights the difficulties young designers face in accessing international markets and export finance within the creative industries. Requests support for fashion and other creative sectors.

Concerned about how to direct financial assistance effectively, avoiding a 'Catch-22' situation where successful companies are ineligible or struggling ones risk bankruptcy. Asks the Minister how to ensure funds go to those most in need.

Supported the Bill but raised concerns about ensuring no private sector funding can be secured before UK Export Finance intervenes. She questioned how the funding would address regional disparities and expressed caution about supporting exports to countries under sanctions.

Welcomed the Bill's intention to increase trade, especially post-Brexit. He highlighted the importance of UK Export Finance in boosting British exports and creating jobs. He also discussed the potential for increased trade with the EU.

Asked if there was agreement on forging a new customs union with Europe as soon as possible, to which Ben Coleman responded by emphasising the need to implement existing deals before considering further agreements.

The current eligibility criteria for UK Export Finance exclude many small businesses trying to enter or grow modest export activity. Proposes simpler application processes and lower thresholds for SMEs, with dedicated support teams understanding the needs of smaller exporters.

The debate on expanding UK Export Finance capacity is in context of past votes on staying in the customs union. Proposes a reset of the relationship with Europe, advocating for a new bespoke UK-EU customs union to boost GDP and generate tax revenues.

Supports the Bill as it updates limits set in another economic age. The current tools of industrial policy should not be allowed to rust, especially for strategic industries like steelmaking. Emphasises that intervention must enable productive work.

Supports the Bill to provide flexibility to Ministers in supporting businesses navigating an increasingly complex global economy post-Brexit. Highlights local examples of innovative SMEs benefiting from export finance.

The speaker discussed the importance of the Bill for increasing trade, economic growth, and diplomatic relations. He highlighted his work as a trade envoy to southern Africa and emphasised the need for joined-up trade finance in supporting UK interests abroad. He also mentioned the critical minerals strategy and the necessity of creating deeper economic ties with fast-growing countries, especially those in Africa. Bailey asked the Minister about how changes in the Bill would complement UK Export Finance’s updated strategy and whether there could be a more flexible approach to support organisations like UKEF better. He expressed concerns over resource constraints affecting implementation but praised some innovative approaches across Africa that can serve as lessons for trade creation and innovation.

The shadow minister emphasised the Conservative Party's commitment to supporting British businesses and exporters. She highlighted the importance of not letting government funding overshadow private sector investment and praised UKEF’s role in extending capacity or terms under export development guarantees. She challenged Labour members who questioned the necessity of free trade agreements outside the EU customs union, citing examples such as UK-India and US free trade deals. Baldwin concluded by referencing Ronald Reagan's famous quote about regulation.

The minister thanked colleagues for their contributions and addressed questions raised during the debate. He clarified that while commercial finance and UKEF funding might overlap, UKEF’s mission is to ensure no viable UK export fails due to lack of private sector financing. He highlighted UKEF's ability to provide cohering power by extending capacity or terms under export development guarantees.

Mr Reed asked about the risks in the Bill concerning cyber security. He raised concerns over JLR's recent cyber-attack and how UK taxpayers might end up bearing the cost of such incidents, questioning what message it sends to adversaries like Russia.

The Minister clarified that while financial guarantees were made available for JLR, there is no evidence suggesting they have been drawn down. He underlined the Government's commitment to ensuring businesses take cyber security seriously and reiterated efforts towards achieving frictionless trade with the EU.

Mr Coleman’s work promoting UK business interests abroad was acknowledged, highlighting his role in addressing issues related to the EU. The Minister praised his efforts, particularly mentioning his linguistic skills showcased in Togo.

Mr Myer pointed out the need for updating arbitrary figures due to inflation and stressed the importance of a sovereign capacity in UK steel manufacture. He welcomed the upcoming steel strategy from the Government.

Mr Strickland emphasised the importance of exports for his local region, citing UKEF’s £590 million loan to SeAH Wind UK for an offshore wind factory in Teesside.

Mr Richards questioned the cohering power of the updated UKEF strategy, asked about its alignment with current efforts, and expressed gratitude for clear reports from trade envoys. He advocated for strengthening export opportunities by engaging local businesses.