← Back to House of Commons Debates
Industry and Exports (Financial Assistance) Bill 2025-12-15
15 December 2025
Lead MP
Chris Bryant
Debate Type
General Debate
Tags
Taxation
Other Contributors: 21
At a Glance
Chris Bryant raised concerns about industry and exports (financial assistance) bill 2025-12-15 in the House of Commons. A government minister responded. Other MPs also contributed.
How the Debate Unfolded
MPs spoke in turn to share their views and ask questions. Here's what each person said:
Lead Contributor
Opened the debate
The Industry and Exports Bill builds on the Industrial Development Act 1982 and the Export and Investment Guarantees Act 1991 to provide financial support through grants and loans. It aims to increase export activity by addressing barriers such as tariffs and non-tariff barriers, particularly for SMEs. The Minister highlights that UK Export Finance has supported £14.5 billion of finance last year, contributing to over 70,000 jobs and adding £5.4 billion to GDP.
Gareth Snell
Stoke-on-Trent Central
Lab/Co-op
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.
Jim Shannon
Strangford
DUP
Welcomes the Bill and asks if it could do more for small and medium-sized enterprises, particularly in engineering, in Northern Ireland.
Jim Allister
North Antrim
TUV
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.
Rosie Wrighting
Kettering
Lab
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.
Edward Leigh
Gainsborough
Con
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.
Harriett Baldwin
Con
West Worcestershire
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.
Ben Coleman
Lab
Chelsea and Fulham
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.
Alex Brewer
LD
North East Hampshire
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.
Paul Maynard
Con
Yeovil
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.
Gareth Snell
Lab
Leeds East
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.
Luke Myer
Lab
Middlesbrough South and East Cleveland
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.
Alan Strickland
Lab
Newton Aycliffe and Spennymoor
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.
Calvin Bailey
Lab
Leyton and Wanstead
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.
Harriett Baldwin
Con
West Worcestershire
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.
Chris Bryant
Lab
Welsh Secretary
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.
David Reed
Con
Exmouth and Exeter East
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.
Chris Bryant
Con
Chelsea and Fulham
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.
Ben Coleman
Con
Chelsea and Fulham
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.
Luke Myer
Con
Middlesbrough South and East Cleveland
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.
Alan Strickland
Con
Newton Aycliffe and Spennymoor
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.
Jake Richards
Con
Leyton and Wanstead
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.
Government Response
The Bill aims to increase financial assistance limits under existing Acts, support SMEs, and streamline access to export finance. Emphasises the importance of supporting key industrial sectors like clean energy and advanced manufacturing. Acknowledges concerns about creative industries and fashion designers accessing international markets, highlighting ongoing initiatives such as the music export growth scheme. The minister addressed questions raised during the debate, clarifying 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. The Minister responded to various queries from Members regarding cyber security risks, updating financial figures due to inflation, the importance of exports and regional disparities, and the alignment of UKEF strategy with current efforts. He emphasised the Bill's support for Scottish indie acts, low-carbon hydrogen production, and a wide range of UK businesses across different sectors.
Shadow Response
None
Shadow Response
Championed British businesses and their global reputation. Highlighted the success of British exporters, citing figures from UK Export Finance annual reports. Questioned the deployment of finance where no private sector funding can be secured, asked about regional disparities in economic outlook, and raised concerns about supporting exports to sanctioned countries. 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.
▸
Assessment & feedback
Summary accuracy
About House of Commons Debates
House of Commons debates take place in the main chamber of the House of Commons. These debates cover a wide range of topics including government policy, legislation, and current affairs. MPs from all parties can participate, question ministers, and hold the government accountable for its decisions.