Tag: Business and Trade Department

The press release issued by the Department for Business and Trade on 26 March 2026.

The Government has shored up the UK’s critical supplies of CO2 vital for Britain’s nuclear, packaged meats, fresh food and healthcare by temporarily restarting the Ensus bioethanol plant in Wilton, Teesside.

• CO2 supplies vital for critical sectors protected as government backs plant to resume production.
• Three-month temporary plant restart measure provides resilience for CO2 supply essential for healthcare, food supply, and civil nuclear. 
• Government had safeguarded CO2 production at the plant for this situation, ensuring Britain maintains critical supply during Iran war disruption.

The Government has shored up the UK’s critical supplies of CO2 vital for Britain’s nuclear, packaged meats, fresh food and healthcare by temporarily restarting the Ensus bioethanol plant in Wilton, Teesside today.  

The Ensus plant will operate for a three-month period, to bolster domestic CO2 production significantly, providing more resilience to essential sectors. The plant ceased production in Autumn 2025 and was set to close permanently; however, following intervention by the Government, the company agreed to keep it on standby to provide resilience for critical sectors. 

Disruptions to European fertiliser production — combined with difficult market conditions — have significantly reduced the reliability of CO2 imports, and rising gas prices driven by the Iran conflict, plus unplanned maintenance at several European CO2 producing sites, mean that the UK’s market for CO2 risks being undersupplied. 

Given the potential impact of a shortage on essential UK sectors, including healthcare, nuclear and food and drink production, the Government has taken the decision to back the restart of activity at Ensus to safeguard critical national infrastructure and maintain a resilient supply of CO2. 

When the Government could have stepped back and let the plant close last year, we stepped in to keep it on standby. 

The Government has been in negotiations with Ensus since September to temporarily retain the plant and its operation, to give it the optionality to restart production when needed.  This is the difference an active and strategic state makes.

Business Secretary Peter Kyle said: 

As a government of action we will always do what’s needed to ensure resilience and protect British businesses from the worst impacts of global uncertainty. That’s why we have been in discussions with Ensus since September to keep this critical plant on standby for situations like this. 

By restarting this plant we’ve acted swiftly to boost the resilience of our supply chains and protect critical UK sectors like food production, water and healthcare, as well as the jobs and communities that depend on these industries.” 

This action forms part of wider government work designed to ensure the UK maintains access to its critical industrial inputs during global supply shocks, such as the ongoing Iran conflict. 

The Government will continue to monitor market conditions closely and will work with industry, including CO2 suppliers, to manage supply, and ensure value for money for the taxpayer. 

The Government is also taking steps to diversify the UK’s long term CO2 supply, to strengthen UK resilience and reduce future reliance on imports. We will work with industry on our long term plan to secure resilience in the sector. 

While previous governments closed Britain’s gas storage, time and again we have stepped in to support our resilience: from keeping the blast furnaces running at Scunthorpe to saving the chemical cracker at Grangemouth. 

Grant Pearson, Chairman of Ensus, said: 

This agreement of support from the UK Government is excellent news for our employees and those in our extensive supply chain. It strengthens the broader Teesside manufacturing economy and the UK’s resilience in relation to biogenic CO2 supplies, which are vital to food and drinks companies, as well as being important to hospitals, abattoirs and the nuclear industry. 

When the production plant is in operation the deal will also be very supportive to the UK agricultural and fuel markets including the expansion required in more sustainable aviation and maritime fuels and the future manufacture of more sustainable chemicals. 

The press release issued by the Department for Business and Trade on 24 March 2026.

The tenth round of negotiations on an enhanced Free Trade Agreement (FTA) with Switzerland took place in Geneva between 9 and 13 March 2026. 

The round followed the Secretary of State for Business and Trade’s meeting with his counterpart, Federal Councillor Guy Parmelin, in January 2026 at the World Economic Forum in Davos.

Strengthening the UK’s partnership with Switzerland reflects the UK government’s commitment to economic growth with our 10th largest trading partner, a relationship worth £49.0 billion in the four quarters ending Q3 2025. (ONS, UK total trade, seasonally adjusted).

In 2020, our trading relationship with Switzerland supported 130,000 UK services jobs across finance, consultancy and legal sectors services, transport, and other key sectors (OECD trade in employment database). However, the current UK-Swiss trade agreement, signed in 2019 and based largely on an EU-Swiss agreement from 1972, focuses mainly on goods. It does not include services, investment, digital, or data, even though services account for over 60% of UK trade with Switzerland. Switzerland is the UK’s 6th largest export market for services (ONS, UK total trade, seasonally adjusted).

The enhanced FTA aims to provide long-term certainty for UK services firms, locking in access to the Swiss market, ensuring the free flow of data, and securing business travel arrangements on a permanent basis.

Next Steps on FTA negotiations  

The government will only ever sign a trade agreement which aligns with the UK’s national interests, upholding our high standards across a range of sectors, alongside protections for the National Health Service. Ministers will continue to update Parliament on the progress of negotiations.

The press release issued by the Department for Business and Trade on 19 March 2026.

UK Export Finance announces support for UK exporters to supply high-value projects in Nigeria.

• Major vote of confidence in UK manufacturing as UK Export Finance guarantees £746 million ($902m) to fund the redevelopment of two of Nigeria’s major trading ports 
• A record-breaking £70 million ($95m) contract for British Steel is the result of at least £236 million of the overall deal being invested into British companies  
• A Memorandum of Understanding will also be signed today between the UK and Nigeria to explore and develop future trade and investment opportunities 

Thousands of skilled UK jobs will be supported and hundreds of millions invested into the economy as a historic financing deal is signed today [Thursday 19 March] between the UK and Nigeria.   

The £746 million sum will be used to support the refurbishment of two of Nigeria’s major national maritime infrastructure facilities located in Lagos, the Lagos Port Complex (Apapa Quays) and the TinCan Island Port Complex. It will be delivered through UKEF’s Buyer Credit Facility coordinated and arranged by Citibank, N.A London Branch (“Citi”). 

The agreement between UK Export Finance, the UK government’s export credit agency (UKEF), the Nigerian Ports Authority (NPA) and the Federal Ministry of Finance, will deliver significant benefits for British businesses, with at least £236 million of supplier contracts directed to British companies.  

British Steel will supply 120,000 tonnes of steel billets to construction companies Hitech Nigeria and ITB Nigeria for the ports deal, amounting to a £70 million contract that represents British Steel’s largest export order backed by UKEF. It follows from the Government’s newly announced Steel Strategy which seeks to revitalise the steel sector.

It comes as the Prime Minister welcomes The President of the Federal Republic of Nigeria, Mr. Bola Ahmed Tinubu, to Downing Street today, with the leaders discussing shared priorities to strengthen the UK–Nigeria Strategic Partnership.

Peter Kyle, Business and Trade Secretary said: 

Hot on the heels of our landmark Steel Strategy, this is a major win for British Steel made possible by UK Export Finance which is testament to the quality of UK-made steel and the booming UK-Nigeria relationship. 

Through our new Strategy we’re backing British steelmakers for long-term success at home and abroad, and this contract will reinforce British Steel’s world-class expertise while supporting jobs and growth in Scunthorpe.

Dr. Adegboyega Oyetola, Nigerian Minister of Marine and Blue Economy said: 

The modernisation and upgrading of Nigeria’s ports represents a major step forward for the country and aligns closely with the Federal Government’s commitment to unlocking the full potential of the marine and blue economy. Through strategic partnerships such as this with the United Kingdom, we are laying the foundation for a new era of efficiency, transparency and competitiveness in Nigeria’s port system. Modern infrastructure, supported by digitalised and automated processes, will transform the way our ports operate and strengthen Nigeria’s position as a leading maritime hub in West and Central Africa.

Nigeria’s port operations will be transformative. Turnaround times for vessels and cargo dwell times within the ports are projected to fall sharply as automated processes replace paperwork-heavy procedures and as expanded capacity removes longstanding bottlenecks. The modernised infrastructure will enable faster clearance of imports and exports, reduce demurrage and logistics costs for businesses, significantly improve the predictability and transparency of cargo movement and generate more revenue for national development.

Alongside the NPA deal announcement, the UK and Nigeria will sign a Memorandum of Understanding (MOU) establishing a framework for potential future collaboration. The MOU sets out Nigeria’s priority project pipeline, seeking UKEF finance and support, with the UK set to benefit directly through substantial supply chain participation. The signing signals a clear commitment from both governments to deepen their long-term partnership on trade, infrastructure and sustainable growth. 

Hitech Nigeria and ITB Nigeria have been at the forefront of some of Nigeria’s most transformative infrastructure projects and advanced engineering. 

The Steel Strategy highlights one of many initiatives that the Government is already doing including those on energy prices, skills, procurement and financing support of projects such as the Scrap Metal Taskforce and the new Trade Defence Measures. 

Allan Bell, British Steel CEO said: 

This is a record-breaking contract for British Steel and a major boost to our 4,000 employees and many more people in our supply chains.

After government intervention last April, everyone at British Steel has worked hard to stabilise the company. This deal represents us moving from stabilisation to building long-term sustainability for the business.

As one of the largest ever orders for billet in the history of this company, it marks a tremendous vote of confidence in British Steel and UK manufacturing. And as the biggest order we have ever secured with UK Export Finance, it demonstrates how we are working with the UK Government to meet the global demand for our products.

We thank the government for its support and look forward to working with Hitech Construction Africa Ltd on this transformative project.

Richard Hodder, Global Head of Export & Agency Financing at Citi said:

Citi has been present in Nigeria for over 40 years and is delighted to support NPA and the Federal Government of Nigeria in the financing of this critical infrastructure project which will deliver significant economic benefits to the Nigerian economy over the coming years. As the Coordinator of the transaction, we are pleased to have worked in close partnership with the team at UKEF to deliver one of the largest Export Credit Agency supported Buyer Credit Facilities ever seen in West Africa.

Today’s milestones represent UKEF’s growing presence in the region. Since 2018, UKEF support for West and Central Africa has grown by over £3 billion, reflecting the region’s appetite for diversified trade partnerships and the UK’s commitment to being a trusted partner for long-term investment. 

Tim Reid, CEO at UK Export Finance said:

This deal represents a milestone for UK-Nigeria trade relations and demonstrates the full capacity of UK Export Finance to unlock transformational opportunities for British businesses, while supporting sustainable economic growth in key markets.

With over £200 million feeding back to British companies, including one of the largest steel billet contracts in British Steel’s history and our new Memorandum of Understanding, UKEF is laying the foundations for a deeper, long-term relationship with Nigeria, that will open doors for British exporters across the entire region.

Together, these announcements signal to international markets that Nigeria is open for trade and investment, demonstrating credible government-to-government delivery and building wider investor confidence around Nigeria’s trade infrastructure and growth agenda.

The press release issued by the Department for Business and Trade on 19 March 2026.

UK steel producers and thousands of steel workers to benefit from a new landmark Steel Strategy and robust trade measure.

• Landmark new Steel Strategy sets ambition for up to 50% of steel used in the UK to be made in the UK, boosting production from 30%.
• UK will introduce new trade measure to support national security by preserving vital steel production for critical national infrastructure and defence. 
• Steel import quotas will be reduced with higher tariffs of 50% outside of quotas, ensuring the UK steel sector’s future in the face of global overcapacity.  

UK steel producers and thousands of steel workers from Glasgow to Port Talbot will benefit from a new landmark Steel Strategy as Government takes bold action to protect domestic steelmaking and build more resilience in the supply chain for critical national infrastructure and defence. 

On a visit to Tata Steel Port Talbot to meet steelworkers and launch the Strategy, the Business and Trade Secretary Peter Kyle announced the Government’s ambition to boost domestic production so that it can meet up to 50% of our domestic demand for steel, and secure the industry’s role in supporting vital UK sectors like infrastructure, defence and clean energy. 

Building on the direct financial support the government has made so far, the National Wealth Fund will be the government’s main mechanism for providing up to £2.5 billion of financing for investment in the steel sector this Parliament. The Steel Strategy forms a vital part of the Government’s activist and strategic approach to British industry, taking decisive action to give businesses the certainty and support they need in uncertain times and bolstering the UK’s resilience.

Today, the UK also announces that from 1 July 2026, overall quota levels for steel imports will be significantly reduced by 60% compared to current arrangements, and steel coming into the UK above these levels will be subject to a 50% tariff.   

The robust new measure is a vital step to protect UK steel production in the face of global steel overcapacity. It will apply to imported steel products where they can be made in the UK.

Without action, the UK’s steelmaking capability faces real jeopardy, leaving us reliant on overseas suppliers for materials essential to our energy security, defence and transport infrastructure.  

Business and Trade Secretary Peter Kyle said: 

“Making steel in the UK is vital for national security, critical infrastructure and the wider economy. Steel-making is a cornerstone of our modern industrial policy that deliberately focuses support for key industries, technologies, and strategically important sectors.   

“With this strategy we are closing the decades-long chapter of destructive de-industrialisation and committing instead to strengthening and sustaining Britain as a steel-making nation.” 

The new Steel Strategy also commits to: 

• Confirm electric arc furnaces (EAF) as the future of British steelmaking, continuing the shift from blast furnaces to cleaner, EAF-based production using recycled scrap to support net zero. 
• Enable offshore wind developers to include steel manufacturers in the next round of Clean Industry Bonus applications (launching this year) to maximise UK steel use in renewables. 
• Launch a cross-government working group to ensure a sustainable supply of scrap metal for UK steelmakers. 
• Task the Steel Council with action on workforce needs and practical research and innovation to boost productivity and competitiveness. 

Alongside the new trade measure being announced today, the Government will also be raising the UK’s maximum Most Favoured Nation (MFN) steel tariffs at the WTO to 50% to protect domestic industry in the long run from the impacts of global overcapacity. 

This approach reflects feedback from government’s recent Call for Evidence, aligns with the UK’s Industrial Strategy and Trade Strategy, and follows months of engagement with UK steel producers and downstream industries.  

In tandem, the Government will explore the possibility of introducing requirements to identify where steel imports are melted and poured, in order to better understand our supply chains and ensure the UK steel industry is better protected from global overcapacity.  

The new measure is not about stopping steel trade: steel imports are necessary for industry and will continue. Quota allocations have been carefully designed through engagement with industry to help maintain security of supply and minimise impacts on the wider economy.

Following engagement with downstream sectors, there will be a quarterly roll-over of quotas within the year and a review of the measure after twelve months.   

The UK remains committed to working with international partners, including the European Union, with whom our supply chains are so connected, to tackle global steel challenges. The UK will also continue to work through the Global Forum on Steel Excess Capacity and take forward efforts to advance WTO reform.

Further good news for the UK’s steel sector will be unveiled later today during the Nigerian State Visit, with a substantial new deal backed by UK Export Finance worth £70 million, for British Steel to supply the refurbishment of two of Nigeria’s trading ports. 

Notes to editors 

• The Government is engaging directly with affected stakeholders and trading partners. 
• We are exploring a transitional arrangement under which the new tariff would not apply to goods under contract agreed before 14 March and imported between 1 July and 30 September 2026. We are finalising the details to ensure it gives genuine support from unexpected costs, while still protecting the UK market from excessive imports.
• Read the new Steel Strategy. 
• The Steel Strategy builds on major support the Government has already put in place for the steel industry since taking office, including slashing electricity costs for producers via the Supercharger, reforming procurement rules to ensure more UK-made steel is considered for public projects and speeding up grid access for new investment projects.  
• Since the Government’s intervention at Scunthorpe last year British Steel has made other important progress, including hiring new apprentices and signing significant contracts, such as supplying a Turkish rail project worth tens of millions. 
• Other active government support for Britain’s steel sector and communities since taking office has included £500 million to support the construction of a new electric arc furnace (EAF) at Port Talbot, alongside over £100 million of transition funding for local businesses and to retrain ex-workers. 
• The Government has also backed the Official Receiver with the funding to run a sales process for Speciality Steel UK’s sites, protecting jobs in Rotherham and Stocksbridge in the interim. 
• The up to £2.5 billion of funding for the steel sector this Parliament is in addition to £500 million already earmarked for Tata Steel’s £1.25 billion transformation at Port Talbot, securing 5,000 jobs. 
• In 2024, nearly 40,000 people worked across the UK steel industry, with steelmakers paying on average 32% above local average wages
• 40,000 employed in the UK steel industry sources: ONS JOBS03: Employee jobs by industry Q3 2025, ONS JOBS04: Self-employment jobs by industry Q3 2025 and ONS: Business Register and Employment Survey (BRES) 2024
• 32% above local average wages source: Employee earnings in the UK – Office for National Statistics

Stakeholder quotes:

Jon Bolton, Co-Chair of the UK Steel Council, said:

“This Steel Strategy, alongside the recently published Industrial Strategy, demonstrates the government’s determination to support Foundational Industries and sets out a case for investment in the UK”s steel sector.  

“Steel along with all industrial sectors is facing many external challenges emphasising the need to secure a competitive UK supply chain.  A significant demand for steel in the UK supported by a positive policy landscape, a globally recognised academic knowledge base and a skilled workforce will enable the sector to arrest its many years of decline.”

Gareth Stace, Director General, UK Steel, said:

“Steel underpins our national security, our energy transition, and the delivery of critical infrastructure. Yet for too long, the UK has lacked a coherent, long‑term plan to support the sector. Today’s strategy acknowledges the essential role steel plays in every part of the economy and sets out the direction needed to attract investment, boost innovation, and strengthen our industrial foundations.

“This is a crucial moment: with global markets distorted by overcapacity and subsidy, a clear and ambitious domestic strategy is exactly what is required to ensure steelmaking not only survives in the UK but thrives.”

Community Union General Secretary, Roy Rickhuss CBE, says:

“Since taking office in 2024, the Government has taken many decisive steps to support the steel industry and those who work within it. This Steel Strategy represents the culmination of these efforts.

“The trade measure outlined in this Strategy represent a bold and significant step forward, strengthening our domestic industry and helping to ensure that local economies continue to benefit from a secure, resilient steel sector and the employment it provides.”

Sir Andrew Cook CBE, Chairman, William Cook Holdings Ltd, said:

“The Government’s measures are a recognition of the need to defend the industry from the distortions in global markets. I welcome them, and trust that we can look forward to further trade defence initiatives extending to other areas of the steel industry that are badly damaged by subsidised imports.”

Nick Haycock, Managing Director at Marcegaglia UK, said:

“Unlike some of the steel producers, we have not had any defence for our core products until now. Our markets have been badly impacted by unfair competition and this reduction in quotas offers us an opportunity to grow our domestic market share and domesticate our supply chains. Marcegaglia UK has made major investments in recent years, and these measures will lead to further job creation in our local area.”

Charlotte Brumpton-Childs, GMB National Secretary, said:

“GMB had been calling for a steel strategy for a long time – so it’s good we now have some kind of plan.

“This administration has done more for UK steel than any Government for many, many years.

“But, as ever, the devil will be in the detail and key questions around ownership of Scunthorpe and the future technology mix will be key to our members and their livelihoods.”

The press release issued by the Department for Business and Trade on 19 March 2026.

New redress scheme announced for relatives of postmasters affected by the Post Office Horizon scandal.

• Scheme designed with family members’ input to ensure delivery of redress as swiftly as possible, including in cases with limited or lost evidence. 
• Family group Lost Chances, who have long campaigned for justice, updated in person by the Post Office Minister on the scheme today 
• Personal, face-to-face apologies from organisations to begin as part of restorative justice programme for postmasters and their families  

The Government has today announced details of a new redress scheme for close family members of postmasters most severely affected by the Horizon scandal, which is expected to open in summer 2026.   

This will extend support beyond the almost £1.5 billion of payments already made to postmasters themselves, directly recognising that the scandal’s devastating consequences were experienced not just by those running post offices, but also by those closest to them.  

In many cases, family members suffered serious harm to their mental health and wellbeing as a direct result of their loved ones’ experiences.  

The scheme has been designed to be as accessible and straightforward as possible — minimising bureaucratic barriers so that families receive redress without delay. It also fulfils a key commitment made by the Government following the publication of Volume 1 of the Post Office Horizon IT Inquiry final report. 

Post Office Minister, Blair McDougall will meet representatives from campaign group Lost Chances today to discuss the scheme. They have been involved in the design of the scheme alongside other postmasters and interested groups.  

Minister for Postal Affairs, Blair McDougall, said: 

“The Horizon scandal caused immeasurable harm — not just to the postmasters wrongly accused of crimes, but to their families who stood beside and suffered alongside them.  

“Today’s scheme recognises that harm and will make sure those families receive the support they deserve, as quickly and simply as possible.  

“We have listened carefully to those affected and designed this scheme to reach as many people as we can without putting unnecessary barriers in their way.” 

Recognising that many family members will face real difficulty in obtaining formal evidence of harm suffered years ago, the Government has developed two routes to redress. 

Family members who can provide contemporaneous evidence of personal injury, or who have an ongoing medical condition arising from Horizon, can apply for a full assessed personal injury claim.  

For those who cannot provide this level of evidence, a new events-based route has been created. Where a postmaster relative experienced one of the most serious consequences of the scandal — such as criminal prosecution or bankruptcy — the Government will offer fixed rate recognition payments without requiring further evidence of personal harm. 

This approach ensures that family members are not left without any recourse simply because records decades ago are no longer available. 

Alongside the new scheme, the Government today gives its support for a postmaster-led restorative justice programme which it is funding jointly with the Post Office and Fujitsu. The Restorative Justice Council (RJC) is today publishing a report setting out how the project will be delivered.  

This will include the opportunity for postmasters and their families to join facilitated meetings with staff from Post Office, Fujitsu and the Department for Business and Trade to receive personal, face-to-face apologies from organisations involved in the scandal – to add to the public apologies already given.  

The Department for Business and Trade, the Post Office and Fujitsu have agreed to jointly fund and support the programme over a five-year period. 

The programme was developed in close collaboration with postmasters themselves and follows a pilot phase whose findings were published by the RJC in October 2025. 

Lord Arbuthnot, of the Horizon Compensation Advisory Board, said: 

“I welcome the Government’s proposals to provide redress to the family members of Horizon postmasters, many of whom suffered immeasurable harm because of this dreadful saga.   

“The Horizon Compensation Advisory Board has helped to shape the scheme’s design and will continue to monitor closely the development of the scheme and to provide its experience and expertise where helpful. 

“Whilst the wrongs of the Horizon scandal cannot be undone, this scheme will help to give family members the recognition that they deserve.”

ENDS

Notes to editors 

• The scheme for families of Horizon Scandal postmasters follows the Government’s acceptance of recommendation 18 of the Post Office Horizon IT Inquiry Volume 1 report, and recommendations from the Horizon Compensation Advisory Board. The restorative justice programme detailed also follows the Government’s acceptance of recommendation 19 of the Post Office Horizon IT Inquiry Volume 1 report. 
• The Government has today written to the Lost Chances group setting out the details of the scheme. A copy of the letter has been published online : Horizon Family Members Redress Scheme: letters from the Minister for Small Business and Economic Transformation – GOV.UK

The press release issued by the Department for Business and Trade on 2 March 2026.

Top UK music acts awarded £1.4 million funding to raise global profile.

• Best of  UK music talent awarded funding as 68 independent acts receive total £1.4 million  
• Money will raise the profile of UK music worldwide, helping increase global fanbase and deliver economic growth for country   
• Grants provide lifeline of support for UK music industry grappling with the age of streaming’s challenges and opportunities 

Rising UK music stars have been awarded funding to unveil the best of this country’s talent to the world with £1.4 million to attract new fans, drive revenue, and boost the music industry.  

Streaming has made music more globally accessible than ever before, bringing increased opportunity and competition in equal measure for UK artists.  

The BPI estimates that UK acts account for around 8-9% of global streams, however this is below the average of around 10% in recent years. 

The Music Export Growth Scheme (MEGS) is a lifeline for independent UK acts and companies, providing critical support with grants of £5,000 – £50,000 to break artists into the international music scene who, after achieving domestic success, have sights set on a global following.  

Its track record speaks volumes for the impact it continues to have on the UK music industry. MEGS has supported the international careers of over 522 British artists, and according to the BPI, over the previous 23 rounds has already delivered an estimated £73.5 million financial return for the UK economy.

Successful applicants this year include the likes of Nina Nesbitt, Black Country, New Road, Dry Cleaning, The Snuts, Wes Nelson and The Wellermen.  

Business Secretary Peter Kyle said:  

Streaming has revolutionised access to music for fans worldwide, but it has also created unique challenges for smaller artists and independent labels.  

This scheme moves the dial for indie music by funding global tours and promotion, removing the financial hurdles which would otherwise prevent our best home-grown talent from blossoming into international success stories.

Securing MEGS funding is a launchpad that will help artists and labels reach the ears of new fans and follow in the footsteps of past recipients like Ezra Collective and Dave who turned this opportunity into standout global success.

According to the IFPI, the UK is the third biggest music market in the world – the biggest in Europe – and according to the BPI, the second biggest exporter of recorded music after the U.S.  A diversity of acts from across the UK is fundamental to the industry’s continued success.   

That’s why the government is committed to ensuring MEGS reaches artists and companies wherever they are based.  Around two thirds of the MEGS recipients were originally from outside London, helping develop record labels and accelerate success across the country.  

According to the BPI for every pound from government, MEGS generates an economic return of £14 and a tangible cultural payoff, with successful acts going on to achieve numerous BRIT Award nominations and wins, 19 shortlists for the Mercury Prize and 4 Album of the Year wins, as well as hundreds of millions in global streams.  

Sophie Jones, BPI Chief Strategy Officer, said:   

In an increasingly competitive global landscape, the Music Export Growth Scheme is a vital springboard for UK artists looking to reach international audiences and build their profiles, and a critical resource for the UK’s SME music businesses and independent sector. It’s also a proven financial success, generating a significant return on investment, and a great example of what can be achieved when industry and Government come together in support of Britain’s world-class music ecosystem.   

MEGS alumni have gone on to become BRIT Award and Mercury Prize-winners, chart-toppers and household names. We’re excited to see what the future holds for the 68 fantastic artists supported by this latest round, and grateful to the UK Government for their continued support of the Scheme.

Black Country, New Road said:  

Receiving MEGS has and will help us tour to a high standard during difficult times when the cost of things keep rising and rising. We would like to say thanks. 

The Wellermen said:  

We can’t thank the MEGS funding panel enough for their invaluable support. Touring is financially difficult at the best of times, but right now it is harder than ever. Their crucial support means we can hit the road again this March to promote our new 1778 EP in the USA. This will be our 4th tour in the USA, each one meaning we cement and further grow our dedicated fanbase over there.

Wes Nelson said:  

Really excited and grateful to have been awarded a grant by the MEGS team. This grant means I can do my first shows in Europe with my band, something I’ve wanted to do for a long time. Can’t wait to hit the road and spread my music, massive massive thank you to everyone at the MEGS team.

Nina Nesbitt said:  

As an independent artist releasing through my own label, I’m incredibly grateful to receive support from the MEGS board and BPI. I want to thank the board for recognising my vision and the strength of independent artists building internationally from the ground up.  

This funding represents an important step in expanding my music overseas and investing strategically in my next campaign. It will enable me to grow internationally, reach new audiences, and continue building a global career on my own terms.

The press release issued by the Department for Business and Trade on 2 February 2026.

Update following round 9 of negotiations on an enhanced Free Trade Agreement with Switzerland.

The ninth round of negotiations on an enhanced Free Trade Agreement (FTA) with Switzerland took place in London between 12 and 16 January 2026. 

The new deal aims to support British businesses, back British jobs, and put more money in people’s pockets. 

The enhanced agreement with Switzerland demonstrates the UK government’s commitment to economic growth through strengthening trade ties with our 10th biggest trading partner – a relationship worth £49 billion in the 12 months ending September 2025.

The FTA aims to deliver long-term certainty for UK services firms by locking in access to the Swiss market, guaranteeing the free flow of data and cementing business travel arrangements. 

The trading relationship supported 130,000 services jobs across the UK in 2020 in sectors including legal, consultancy and finance. 

The new agreement will update the current goods-focused UK-Swiss FTA, signed in 2019 and largely based on an EU-Swiss deal from 1972. This does not cover services, investment, digital or data, despite services accounting for over 60% of UK trade with Switzerland.

We have already extended the Services Mobility Agreement between the UK and Switzerland for a further four years to 2029.

Provisional agreement was reached on environment and labour policy areas, which both sides have agreed to combine in a chapter called ‘Trade and Sustainable Development’.

Next steps on FTA negotiations 

The government is focussed on securing outcomes in an enhanced FTA that boost economic growth for the UK.

The government will only ever sign a trade agreement which aligns with the UK’s national interests, upholding our high standards across a range of sectors, alongside protections for the National Health Service.

The press release issued by the Department for Business and Trade on 14 January 2026.

In a speech to top business leaders the Business Secretary will lay out how the Government’s Modern Industrial Strategy will double down on the UK’s world-leading strengths in 2026 and not only scale up businesses, but keep them anchored in the UK.

Business Secretary Peter Kyle will set out his ambition for the UK to go toe to toe on economic growth with the US economy to boost living standards today [Wednesday 14 January].

In a speech to top business leaders including from Alphabet, Meta and Ford at Bloomberg’s London headquarters, he will lay out how the Government’s Modern Industrial Strategy will double down on the UK’s world-leading strengths in 2026 and not only scale up businesses, but keep them anchored in the UK.

He is expected to say:

We stood on a manifesto commitment to be the fastest growing economy in the G7. And we absolutely meant it.  

Now, in the first three quarters of last year, the UK achieved the second highest growth of that group. That is cause for optimism. 

But contrast it to the United States. The US achieved 4.3% annualised growth over the last quarter. 

I want to fight tooth and nail with you to get that extra growth. To compete with America.  

I say this because I know what it would mean for families. The impact it would have on people’s wages. On their disposable income. On their living standards.

He is expected to welcome the strong progress the Government has made so far in delivering its Modern Industrial Strategy, with a new quarterly update confirming £79bn of investment commitments and 50,000 well-paid jobs secured in just the last quarter.

He will also confirm the names of three new business leaders to join the Industrial Strategy Advisory Council: Amelia Gould (General Manager, Maritime at Helsing), Keith Anderson (CEO, Scottish Power) and Dana Strong (CEO, Sky).

He is expected to say that whilst the Government has made important choices for the long term such as on rail, roads and runways, it must be just as bold at driving growth in the short term:

That means injecting real urgency into delivering our Modern Industrial Strategy.  

Taking risks. Placing the big bets on the industries that we know can win. And win big.

Kyle will also set out the Government’s approach to regulation, such as accepting the findings of the Fingleton Review on nuclear and moving away from “pointless gold plating” of state projects.

To help bring the UK into line with the US’s levels of growth, he will argue that British businesses need help in scaling up to encourage them to stay in Britain. This will include large new investments from the British Business Bank and more firepower for UK Export Finance.

He is expected to say:

Very soon, I will be setting out how we’ll go even further to reduce that regulatory burden and ensure our most promising start-ups don’t need to leave our shores to reach their full potential.

Over the coming days and weeks, we will be doing more – a lot more – to move the dial. To go for growth at every opportunity.

He will highlight the Government’s work to reduce burdens for business since his appointment, including a £230 million reduction in admin costs and energy price support such as the Supercharger and British Industrial Competitiveness Scheme, slashing businesses’ energy costs.

The reception comes ahead of the Business Secretary’s attendance at Davos next week where he will engage with business leaders and set out why the UK is truly the best place in the world to invest, with a culture of entrepreneurship, world-class education and certainty for business.

Other attendees at the reception will include the Director Generals of the CBI and BCC, Greg Jackson, CEO of Octopus Energy, and executives from Heathrow, Blackrock, McKinsey, BP and AstraZeneca.

Industrial Strategy Council Appointments:

• Keith Anderson has been CEO of ScottishPower since 2018. Prior to his appointment as Chief Executive, Keith was CEO of ScottishPower Renewables and led Iberdrola’s international offshore business. Before joining ScottishPower, Keith worked with some major financial institutions including The Royal Bank of Scotland and Standard Life, as well as working as a management consultant with E&Y. Keith has an Honorary Degree from Strathclyde University and is an Honorary Fellow of the Energy Institute.
• Amelia Gould CEng FIET is the General Manager, Maritime for Helsing and leads the Group’s work in the maritime domain. Amelia has over 20 years of strategic and operational delivery experience in the global defence sector. She began her career as a Royal Navy Engineering Officer where she served for 11 years before moving into enterprise architecture and then joining BAE Systems, where she held senior technical and leadership roles. She became Managing Director of Helsing UK in 2023, helping build Europe’s leading defence tech company, and is now General Manager Maritime. A Chartered Engineer and Fellow of the IET, she is committed to inspiring future talent through her STEM ambassador work and as Chair of Trustees for FirstUK. She was also a Non-Exec director at Maritime UK Solent for 5 years, promoting maritime innovation across the region.
• Dana Strong is Group Chief Executive of Sky, one of Europe’s leading media and entertainment companies and part of Comcast Corporation, a global media and technology group. Dana has managed both cable and satellite businesses around the world and is recognised for her track record for accelerating growth. Before joining Sky, Dana led transformation and growth for many of the world’s largest media and telecommunication companies serving as President of Consumer Services for Comcast Cable, the largest broadband and PayTV operator in the United States; President and Chief Operating Officer of Virgin Media; and Chief Transformation Officer of Liberty Global.

The press release issued by the Department for Business and Trade on 14 January 2026.

The Business Secretary has appointed three new business leaders to the Industrial Strategy Advisory Council.

Today [14 January], Business Secretary Peter Kyle has appointed three new business leaders with a wealth of experience to support key UK sectors, as the government looks to ramp up economic growth and opportunities for people across the country. 

Amelia Gould, Keith Anderson and Dana Strong will join the Industrial Strategy Advisory Council – an independent body that advises the government on delivering the Industrial Strategy – to improve the Council’s range of perspectives and understanding of sectors across the UK.  

This comes as the government looks to drive investment into key sectors and deliver the higher living standards and better public services the UK deserves. 

Amelia Gould CEng FIET joins the Council with over 20 years’ experience in the global defence sector. A former Royal Navy Engineering Officer with 11 years’ service, she later moved into enterprise architecture and senior roles at BAE Systems. Amelia became Managing Director of Helsing UK in 2023 and is now General Manager, Maritime. 

Keith Anderson has been CEO of ScottishPower since 2018. He previously led ScottishPower Renewables and Iberdrola’s international offshore business and earlier worked in financial services with RBS and Standard Life, as well as consulting with EY. 

Dana Strong is Group CEO of Sky, one of Europe’s leading media and entertainment companies within Comcast. Previously, she held senior leadership roles driving growth and transformation at Comcast, Virgin Media, and Liberty Global. 

Business and Trade Secretary Peter Kyle said:

Amelia, Keith, and Dana bring extensive business expertise to the Industrial Strategy Advisory Council, helping strengthen our efforts to drive economic growth and raise living standards for people across the country. 

This Council plays a key role in delivering our modern Industrial Strategy, which is vital in creating the long-term stability and growth we need by hardwiring stability for businesses – giving them the confidence to plan not just for the next year, but for the next 10 years and beyond.

The Government has also published the mandate letter setting out the Council’s work programme for 2026. The letter, issued jointly by the Chancellor of the Exchequer and the Secretary of State for Business and Trade, commissions the Council to provide impactful advice and analysis on key delivery priorities over the year. These include driving dynamism in markets alongside boosting skills and access to high quality jobs. 

Dame Clare Barclay DBE, Chair of the Industrial Strategy Advisory Council said:

I’m delighted to welcome Dana, Keith and Amelia to the Industrial Strategy Advisory Council. Their leadership across creative industries, energy and defence will strengthen our work. Their expertise will be invaluable as we drive forward an industrial strategy focused on growth, innovation and supporting businesses to scale, start and compete.

Dana Strong, CEO of Sky Group said: 

The UK has strong foundations for growth across the whole economy, and I am passionate about supporting UK businesses to scale, innovate and compete internationally. Creating the right conditions for long-term growth and productivity will be central to future prosperity, and I look forward to supporting the Industrial Strategy Advisory Council to help secure the UK’s long-term competitiveness.

Keith Anderson, CEO of ScottishPower said:

The UK’s industrial strategy is critical to unlocking investment, pushing productivity, and driving growth.  The Advisory Council has a vital role to play in helping realise that potential and make a long and lasting difference for people the length and breadth of the country. Working together, government and business can turbocharge economic growth and build a better future that offers opportunity, security and prosperity right across the country.

Amelia Gould, General Manager Maritime at Helsing said: 

I’m delighted to join the Industrial Strategy Advisory Council and draw on my experience across defence, engineering and advanced technology to support the Government’s growth mission. I look forward to supporting the UK’s industrial capability and long‑term resilience

Notes to Editors:

• You can read the Industrial Strategy Advisory Council Mandate letter here.

The press release issued by the Department for Business and Trade on 30 December 2025.

On 11 December 2025, the UK hosted the fourth edition of the annual dialogue between the UK Department for Business and Trade (DBT) and the French Direction générale des Entreprises (DGE). 

Initiated in 2023, this bilateral dialogue brings together public sector leaders and policy experts to identify opportunities to deepen mutually beneficial collaboration. The fourth edition was led by Amanda Brooks CBE, Director General at DBT, and Thomas Courbe, Director General at DGE, alongside representatives from the British Embassy in Paris and the French Embassy in London.  

This year a key theme was the Industrial Strategy Partnership, agreed between the UK and France in July 2025. This Partnership strengthens collaboration in the Industrial Strategy high-growth sectors such as clean energy, critical minerals, and digital technologies including AI. The dialogue saw both parties commit to intensify collaboration and the sharing of practices in SME AI adoption and in economic security.