Global Trade Support for Businesses
2026-04-28
TAGS
Response quality
Questions & Answers
Q1
Direct Answer
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Context
The question arises from the need to support British businesses in expanding their global trade activities.
What steps she is taking to support businesses to trade globally?
This Government are backing our brilliant British businesses to trade globally, including through our new trade strategy that expands UK Export Finance's capacity to £80 billion. This Government have secured new trade deals with India, South Korea, the EU and the US to back British businesses globally, delivering improved access to key markets and protecting British jobs.
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Assessment & feedback
Response accuracy
Q2
Partial Answer
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Context
The question arises from the success of Cosy Direct, an early years education resources company that exports globally.
I recently joined Cosy Direct for its second King's Award presentation, this time for international trade. The Chancellor saw its success, and its goats, at first hand when she visited with me last year. Will the Minister join me in congratulating Pete, Amanda and all the team, and will she say what work she is doing to allow such businesses to expand and export globally?
I warmly congratulate Pete, Amanda and the wider team—and the goats—on their success. In inviting me to do so, my hon. Friend shows that he is indeed a true champion for the businesses in his constituency. The support that this Government are giving to businesses will enable more of our fantastic British companies to export globally and to emulate Cosy Direct's success.
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Assessment & feedback
The minister congratulates the business but does not provide specific work being done to help others expand.
Under Consideration
Response accuracy
Q3
Partial Answer
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Context
The question arises from the pressures faced by integrated industrial clusters like Saltend in the constituency, due to higher energy costs and global events.
Will the Minister look at establishing an industrial support fund, so that rather than having an ad hoc approach, such as that seen when supporting Grangemouth, we have something strategic to ensure that we do not lose the industrial base upon which so much of this country depends?
I believe the right hon. Member mentioned the British industrial competitiveness scheme. That is being expanded. He will also be aware of the British industry supercharger package, which provides additional price relief from April 2026 as well.
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Assessment & feedback
The minister does not confirm a strategic fund but mentions existing schemes and expansions.
Under Review
Response accuracy
Q4
Partial Answer
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Context
The question arises from concerns that overinterpretation of rules and regulations in the financial sector is slowing growth and international trade.
Overinterpretation of rules and regulations has led to banks being nervous of taking risks, and that has slowed growth in the City and holds up international trade. For example, overinterpretation of anti-money laundering rules means that foreign inward remittances can take up to two weeks to clear into a UK bank account, while poor classification of risk-rated assets potentially starves businesses of growth debt capital. Will the Economic Secretary please assure the House that this ever-unnecessary tightening of the rules will be addressed in the financial services Bill?
The hon. Gentleman will not expect me to pre-empt anything that may or may not be announced in the King's Speech. What I will tell him, though, as he already knows, is that this Government are backing our financial services sector to the hilt to ensure that it continues to be the world-leading success that it is.
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Assessment & feedback
The minister avoids addressing specific rule tightening concerns and does not provide assurance about the Bill.
Deflects
Response accuracy