Department for Business and Trade

Byrne expresses concern over the £375 million increase for British Steel and the lack of a clear steel strategy. He also addresses the Post Office provisions for the Horizon scandal, questioning why more is not being demanded from Fujitsu. Byrne further criticises the Department for Business and Trade for not addressing critical issues such as energy costs, business rates, skills system, and access to finance for small businesses. He highlights the need for a more coherent regulatory environment and more support for exports.

Madders intervenes to express concern over the lack of pressure on Fujitsu to contribute to the Horizon scandal costs, despite the company's previous commitment to do so.

The Liberal Democrat MP highlighted the Department for Business and Trade's objectives and discussed a roundtable she held with hospitality businesses in her constituency. She noted that businesses in North East Fife face challenges such as difficulty in accessing finance and rising costs, including national insurance contributions and business rates. She emphasised the need for measures like reducing VAT from 20% to 15% to support the hospitality industry, which is crucial for the local economy and community.

The Labour MP emphasised the need for the Department for Business and Trade to address industrial energy problems, extend electricity discounts to the UK ceramic sector, and provide relief for gas-intensive industries. He also advocated for better procurement practices that support British businesses and warned against the risks of non-market economies undermining domestic production. Snell called for trade protection measures to secure domestic production and maintain national sovereign capabilities.

Cooper criticises the Department for Business and Trade's plan to cut 1,500 jobs despite a 17.8% increase in funding, arguing that fewer staff will result in less productivity. He highlights the potential of free trade agreements and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), but expresses concern over the government's ambition and lack of strategy, especially regarding the steel industry and its reliance on taxpayer support.

Bance supports the Department's work on industrial strategy and trade deals, specifically mentioning the £2.5 billion investment in DRIVE35 and electric vehicle consumer subsidies. She urges the government to address the automotive industry's volume crisis and suggests bringing forward the review of the zero emission vehicle mandate to 2026. Bance also emphasises the need for urgent support in reducing industrial energy costs for manufacturing industries.

We have passed the Employment Rights Act 2025, which gives 18 million employees the right to work they deserve. Our modern industrial strategy has driven £70 billion worth of investment across Britain and includes trade deals with India, South Korea, and the EU. We have introduced a new licensing policy framework to reduce red tape, protect pubs from noise complaints, and support local businesses with the Pride in Place impact fund programme. We have also set out a small business strategy to combat late payments and provide skilled workers, and I have campaigned against tool theft, which costs self-employed tradespeople £193 million annually. I urge the Minister to support the defence, security and resilience bank to help small and medium-sized businesses in the defence sector. Businesses also need support with energy costs, business rates, crime, and workforce issues.

Skills are the top issue for businesses in Harlow. The recent education White Paper is important for a well-balanced and broad curriculum. The British industrial competitiveness scheme aims to cut energy costs and network charges for energy-intensive industries by 90%, ensuring UK business electric costs are competitive with Europe. I welcome the modern industrial strategy, £70 billion investment, trade deals, small business strategy, and efforts to reduce energy costs, but there is more to do. We need a steel strategy and support for gas-intensive industries, such as ceramics and steel.

Reynolds criticised the Government's national insurance hikes and their impact on the hospitality sector, citing a £3.4 billion cost burden. He highlighted the case of Piccolo Land, a children’s role-playing village in Maidenhead, which faces a significant increase in business rates. He also raised concerns about rising shoplifting rates and proposed grants and loans for independent convenience stores to install modern CCTV systems.

The Department for Business and Trade has requested a significant budget increase, which the Opposition finds concerning. Davies questions the need for such a large budget increase, especially compared to other departments. He also raises concerns about the cost of the intervention in British Steel, noting a significant difference in the reported cost. Davies inquires about the details of this spending and the future of British Steel. He also questions the growth guarantee scheme, asking for information on default rates and whether the scheme complements or displaces private lending.

Thanked participants for their contributions and addressed the Department's overarching strategy focusing on growth mission and industrial strategy. Discussed the rationale behind in-year budget increases, including support for British Steel, the Post Office, and the British Business Bank. Elaborated on the steel industry support, mentioning the government's £370 million expenditure and commitment to a £2.5 billion support package. Addressed the Post Office compensation issue, noting payments to postmasters and Fujitsu's moral responsibility. Concluded by addressing concerns about small business support and energy efficiency.

Asked about the Government's support for businesses in growing and regenerating their city centres, particularly in the context of past austerity and neglect.

Emphasised the importance of a shared agenda for faster growth and rising living standards. Highlighted the need for the steel strategy to be published soon, aggressive action to reduce energy costs, better support for manufacturing, and support for tradespeople and small businesses.