Commons Sense

House of Commons · Ministers' Questions

Global Trade: Support for Businesses

Tuesday 28 April 2026 · 4 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 2 Not answered 0

Key points

  • Jacob Collier asked the Minister about steps being taken to support businesses in global trade, to which the response included expanding UK Export Finance's capacity to 80 billion and securing new trade deals with key countries.
  • The Minister congratulated Pete, Amanda, and the team of Cosy Direct on their success in international trade, acknowledging the importance of supporting businesses in the constituency.
  • Graham Stuart inquired about establishing an industrial support fund to strategically support the UK's industrial base, and the Minister responded by mentioning the expansion of the British industrial competitiveness scheme and the British industry supercharger package.

Topics (select to filter)

Questions & Answers

Q1 Jacob Collier Lab Burton and Uttoxeter
Business & Trade
Context

The question arises from the need to support British businesses in expanding their global trade activities.

Question

What steps she is taking to support businesses to trade globally?

Answer from Lucy Rigby

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.

Answered
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Q2 Jacob Collier Lab Burton and Uttoxeter
Business & Trade
Context

The question arises from the success of Cosy Direct, an early years education resources company that exports globally.

Question

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?

Answer from Lucy Rigby

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.

Partly answered

Not addressed: The minister congratulates the business but does not provide specific work being done to help others expand.

How: Under Consideration

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Q3 Graham Stuart Con Beverley and Holderness
Business & Trade
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.

Question

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?

Answer from Lucy Rigby

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.

Partly answered

Not addressed: The minister does not confirm a strategic fund but mentions existing schemes and expansions.

How: Under Review

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Q4 Mark Garnier Con Wyre Forest
Economy Business & Trade
Context

The question arises from concerns that overinterpretation of rules and regulations in the financial sector is slowing growth and international trade.

Question

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?

Answer from Lucy Rigby

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.

Not addressed: The minister avoids addressing specific rule tightening concerns and does not provide assurance about the Bill.

How: Deflects

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