Tag: Business and Trade Department

The press release issued by Department for Business and Trade on 22 December 2023.

The UK’s trade deal with Australia is ringing in festive cheer this year, having helped British music companies expand Down Under ahead of the festive period.

The UK’s free trade agreement with Australia is ringing in festive cheer this year, having slashed tariffs and helped British music companies expand Down Under ahead of the lucrative festive period.

Backed by British legends Sir Elton John and Sir Paul McCartney, London-based music tech company Audoo produce smart listening devices, or Audio Meters, which are placed in pubs, shops and bars to identify when and where music is being played and ensure musicians are paid for that play.

The UK’s trade deal with Australia has made exporting for Audoo easier, slashing tariffs on their product, simplifying paperwork and speeding up the customs process. This has helped them more than double the number of Audio Meters found in Aussie venues, rolling them out across all major cities including Brisbane, Sydney, Canberra, Melbourne and Adelaide, ensuring musicians are paid fairly over the festive period – a key time for sales.

British Christmas bangers feature heavily during Australia’s festive period, with three of the top 10 songs last year featuring UK artists.

According to Bloomberg, in 2018 artists and record companies were losing out on almost $3 billion in unaccounted royalties each year.

Minister for Trade Policy Greg Hands said:

British music is rocking around the world’s Christmas trees for a reason and Australia is no exception, with our iconic tunes ringing out across Aussie cities over the festive period.

All our music artists really want for Christmas is to get the payment they deserve, regardless of where their song is being played. Our trade deal with Australia makes it easier for businesses like Audoo to expand Down Under and fill our stars’ stockings with well-earned royalties.

Audoo Founder & CEO Ryan Edwards said:

Launching across Australia has been a major step in our journey as a proud British business growing on a global scale. The free trade agreement helped us accelerate our implementation ensuring our mission to deliver accurate data for fair royalty distribution.

Melbourne took the crown as the most festive Aussie city in 2022, with Christmas songs accounting for 34% of all music played from November to December 31st, rising to 43% in December.

The UK-Australia free trade agreement came into force in May 2023 and under its beneficial terms tariffs on all UK goods exports to Australia have or will be removed, making UK products more competitive in the Australian market.

This is the first trade deal that the UK has negotiated from scratch since leaving the European Union and is expected to increase trade with Australia by 53%, boost the economy by £2.3 billion and add £900 million to household wages each year in the long run.

The deal also cuts red tape that was faced by more than 13,000 small and medium-sized businesses across the UK who already export goods to Australia, ensuring goods leave customs quickly.

The press release issued by the Department for Business and Trade on 19 December 2023.

The government has today announced that circa £138m has so far been paid out to over 2,700 claimants across the three Post Office compensation schemes.

The government has today [Tuesday 19 December] announced that circa £138m has so far been paid out to over 2,700 claimants across the three Post Office compensation schemes.

These figures have been announced as part of the government’s Post Office Compensation Bill which is expected to conclude its passage through the House of Commons today.

So far, 93 convictions have been overturned and it has been confirmed that the first 27 claims have agreed full and final settlements.

There has also been progress made on payments made for the 500 trailblazing postmasters who took the Post Office to court and exposed the Horizon Scandal has already paid out £27 million across 475 claimants. This includes 11 full and final settlements. A further 10 full and final settlements have been accepted, bringing the total number of accepted full and final settlements to 21.

The full 2,417 postmasters who claimed through the original Horizon Shortfall Scheme have now all had offers of compensation. £87 million has been paid out. The Post Office is now dealing with late applications and with those cases where the initial offer was not accepted.

Minister for Postal Affairs Kevin Hollinrake said:

Today’s new data on Post Office compensation is a step in the right direction to making sure every postmaster gets the justice and compensation that they have waited too long for.

It is important that everyone knows the truth about what happened, and that steps are being taken to right the wrongs of the past. Truth and accountability are one part of providing justice, and the other part is compensation.

The Post Office Horizon Scandal started in the 1990s and its impacts are still felt today.

This government is committed to delivering justice for all Horizon victims, which is why it set up the statutory inquiry chaired by Sir Wyn Williams.

We have also created the Horizon Compensation Advisory Board to help make sure all compensation is fair and just. Reports from the Advisory Board are published on gov.uk.

After today, the Post Office Compensation Bill, which will allow compensation to be paid under the Group Litigation Order (GLO) scheme past the 2024 deadline if needed, is expected to progress to the House of Lords for debate before securing Royal Assent in the new year.

Notes to editors:

• Information on GLO scheme correct as of 19 December and data on HSS and OC correct as of 18 December.
• Circa £138m in compensation paid includes:
  • Horizon Shortfall Scheme (HSS): £87 million (including late claims)
  • Group Litigation Order (GLO) Scheme: £27 million total value of all payments including interim payments
  • Overturned Convictions (OC): £24 million total value of all payments including partial settlements and further interim payments
• Figures are rounded to the nearest £1m.
• Over 2,700 claimants receiving payments across Post Office compensation schemes includes those receiving interim and partial payments as well as full and final awards.
• Data on Post Office compensation schemes is available at https://www.gov.uk/government/publications/post-office-horizon-compensation-data-for-2023. See notes for tables for further details.

The press release issued by the Department for Business and Trade on 12 December 2023.

Exports Minister will lead renewable energy companies to meet Chilean government and business officials.

• British expertise and services can boost Chile’s ambitions to develop its renewable energy capability
• Chile is one of the UK’s most important trading partners in Latin America and a fellow member of CPTPP

Exports Minister Lord Offord has today [12/12/2023] landed in Santiago, Chile where he is leading a trade mission of British hydrogen and renewable energy companies to match them with business opportunities in the country.

The businesses will be introduced to key Chilean developers and prospective customers at a showcase event hosted in Santiago. The Minister will also be meeting with Chilean developers to better understand their needs and promote how British companies can meet these.

Lord Offord will meet with Chilean Minister for Energy Diego Pardow, and Minister for Economy Nicolás Grau, to discuss how Chile and the UK can work together to boost trade and support the transition to renewable energy sources.

Minister for Exports Malcolm Offord said:

With Chile’s ambition to boost its renewable energy infrastructure, and the UK’s expertise and capabilities in this field, there is a clear opportunity for both our countries to benefit and prosper.

Chile is one of our most important trading partners in Latin America and with our upcoming accession to CPTPP I want to see trade between us boosted even further.

The trade agreement with Chile was particularly important to the UK, being the first one signed in 2019. With the UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) of which Chile is a member, this trading relationship will continue to grow with businesses in both countries being able to choose the most beneficial agreement to trade under.

Total trade in goods and services between the UK and Chile in the last year grew by over 13%, reaching £1.9bn. The UK government aims to continue to grow this trading partnership, particularly by supporting Chile to harness its potential in renewables, including low carbon hydrogen, with the world leading expertise from UK companies.

CPTPP will cut tariffs for goods exporters and provide new opportunities and improved access for services industries, enhancing the bilateral relationship in key sectors such as energy and infrastructure services.

Chile is a key player in the global race to decarbonise, holding huge reserves of copper and lithium, as well as leading the region in renewable energy development. That’s why so many UK companies are eager to do business in the energy and infrastructure sectors.

Patricio Maguire, Director of Turner and Townsend Chile said:

Chile and UK share a long history of cooperation. Green hydrogen and carbon capture industries are another examples of new areas of integration. While Chile has a vast stock of clean energy resources and a mature industrial environment, UK is a leading actor in the decarbonisation industry and, in particular, offers top notch technologies in electrolysis for H2 production.

As the local branch of a global UK-based consultancy firm, we, at Turner & Townsend are proud to be part of the energy transition industry and look forward to continue to provide our expertise and global footprint at the service of their actors.

Tom Wills, Development Director at Voar Energy said:

We are delighted to be participating in this UK trade mission at such an important moment in Chile’s energy transition.

Chile is set to be a world leader in green hydrogen and at Voar we’re keen to develop relationships with others active in that area, with a particular focus on Power-to-X projects in remote locations and green bunkering / fuel systems for ships.

Agustin Lopez Munell, CEO of Desitec who are moving their HQ from Argentina to the UK said:

We are honoured to join the Renewable Energy Trade Mission to Chile. This mission perfectly aligns with our goals to expand our innovative sensor technology into new markets as we transition our headquarters from Argentina to UK, specifically London or Edinburgh. Our goal is to continue educating ourselves about hydrogen and to seek partners with whom we can collaborate on our developments.

The press release issued by the Department for Business and Trade on 2 December 2023.

Small Business Minister Kevin Hollinrake urges everyone to support their local small businesses.

• Targeted government intervention is addressing gaps in accessing finance from traditional lenders to help them scale up and grow

Small Business Minister Kevin Hollinrake has urged everyone to go out and support their local small businesses this Small Business Saturday [02/12/2023].

Small Business Saturday is an initiative which encourages consumers to shop locally and support small businesses in their communities and it falls on the first Saturday of December.

In a call to action the Minister said:

I urge everyone to join me in supporting our local small businesses this Small Business Saturday. The best support we can give them is to shop local this festive season.

Every penny spent at your local small business is an investment in your community.

Prime Minister Rishi Sunak welcomed small businesses, charities and local communities to Downing Street for a Christmas Market Festive Showcase on Thursday 30th November ahead of Small Business Saturday, and Minister Hollinrake was able to meet with some of the businesses beforehand.

Engagement with Small Businesses is a government priority, and Minister Hollinrake was able to discuss the important topics of accessing finance as an SME, as well as the issue of late payments, which some of the businesses reported had improved since the Department of Business and Trade published the Prompt Payment and Cash Flow Review, signalling clear government intent to back small businesses in this issue.

Supporting small businesses to scale up and grow is a clear government priority. The Chancellor’s Autumn Statement had a clear focus on growth, creating a favourable business environment that keeps more money in consumer’s pockets and reduces costs for businesses, creating the right environment for businesses to start and scale up. The increase to the National Living Wage to £11.44 an hour, as well as cutting taxes for 29 million workers, increases consumer’ spending power, whilst businesses are supported by a £4.3 billion business rates package.

The government backed British Business Bank is supporting £12.4 billion of finance to over 90,000 businesses across the UK, of which 86% are outside London. The Bank is delivering a £1.6 billion programme of Nations and Regions Investment Funds, to support growing businesses outside London and South East. Funds covering the South West, Scotland, Northern Ireland and Wales have launched earlier this year, with more to follow. It has issued over 100,000 Start Up Loans since 2012 providing over £1 billion for entrepreneurs at the start of their growth journey, 40% of whom are women and 21% from an ethnic minority background.

UK Export Finance, the government’s export credit agency also provides government backed guarantees on financial products through banking partners. It was recently announced at their customer conference that it is introducing more flexible, fast-track financing for small businesses – making it easier than ever for UK firms to sell in international markets.

Additional Information

• The Department for Business and Trade published the Prompt Payment and Cash Flow Review on GOV.UK here: https://www.gov.uk/government/publications/prompt-payment-and-cash-flow-review
• UK Export Finance recently announced their extra support for SME exporters on GOV.UK here: https://www.gov.uk/government/news/uk-export-finance-unveils-extra-support-for-sme-exporters

The press release issued by the Department for Business and Trade on 30 November 2023.

The Department for Business and Trade has today announced the appointment of seven new members to the Office for the Internal Market (OIM) Panel.

The OIM was set up to support the effective operation of the UK internal market, advising the UK government on how specific laws, rules and regulations impact the market.

These appointments will support the OIM Panel Chair, Murdoch MacLennan, to deliver a trusted source of expert and independent advice and reporting to the four governments and legislatures to help ensure frictionless trade between the four nations. The panel will have a wealth of expertise and knowledge to provide effective insight relating to the operation of the UK internal market in different parts of the UK.

The appointed panelists are:

Minister for Exports Lord Offord, said:

These appointments to the OIM Panel, under the leadership of Murdoch MacLennan, will ensure that the OIM is able to carry out its important work and demonstrates this government’s ongoing commitment to an effective internal market that works for the benefit of business and consumers throughout the UK.

Chair of the Office for the Internal Market Murdoch MacLennan said:

I am delighted to welcome the OIM Panel on board and am very impressed with the quality of these appointments. The Panel members have a wealth of experience from across the UK, and I very much look forward to working with them.

The press release issued by the Department for Business and Trade on 29 November 2023.

The government has today introduced the Post Office (Horizon System) Compensation Bill to the House of Commons.

The government has today [29 November 2023] introduced the Post Office (Horizon System) Compensation Bill to the House of Commons to ensure that the trailblazers who exposed the scandal do not miss out on compensation because of an arbitrary deadline.

The Horizon IT Inquiry, chaired by Sir Wyn Williams, is responsible for ensuring there is a public summary of the failings which occurred with the Horizon IT system at the Post Office leading to the wrongful suspension, termination of postmasters’ contracts, prosecution and conviction of postmasters.

Following recommendations from Sir Wyn, Ministers have brought forward legislation to allow compensation to be paid under the Group Litigation Order (GLO) scheme past the 7 August 2024 deadline if needed.

Minister for Postal Affairs Kevin Hollinrake said:

The Post Office Scandal is widely described as the biggest miscarriage of justice in our history, and it is imperative that the victims get the justice and compensation they deserve.

I am determined that lessons are learnt from this scandal to prevent anything like this ever happening again. This Bill will ensure postmasters aren’t tied to an arbitrary deadline when making their claims or unnecessarily pressurised.

The government is determined to make compensation claims as soon as possible, and by the current deadline of August 2024. However, time needs to be taken to assess more complex claims, so postmasters receive full and fair compensation and are not unduly rushed into making a decision on their claims.

The GLO Scheme was launched in March 2023 and was designed to compensate postmasters who exposed the Post Office Horizon Scandal from the 1990s.

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

I welcome the principle of the Government’s Bill lifting the deadline on compensation payments under the Group Litigation Scheme.

We shall have to look at the precise details, but the Bill confirms that the Government does intend to provide full and fair compensation to the sub-postmasters and will not be deflected from that by arbitrary timescales.

Nevertheless, speed of payment is of the essence, and the Advisory Board will do all we can to ensure that payments are made as early as possible.

Today’s update builds on this government’s action to seek to right the wrongs of the past, including our announcement in September 2023 in supporting the Post Office to make an upfront offer of £600,000 to postmasters whose Horizon-related conviction has been overturned.

In total, £132 million has been paid to over 2,700 claimants across the Horizon Shortfall Scheme, Overturned Convictions Scheme and Group Litigation Order scheme.

The press release issued by the Department for Business and Trade on 26 November 2023.

Industry leaders from across UK advanced manufacturing have welcomed the Government’s landmark Advanced Manufacturing Plan (AMP) backed by billions to boost Britain’s manufacturing sector, announced by Business and Trade Secretary Kemi Badenoch today (26 November).

The package of measures will build on our existing strengths in manufacturing and offer certainty to business by building on our successful programmes and committing more than £4.5 billion to 2030 in targeted funding to back the long-term future of the UK’s world leading industries as well as supporting SMEs through extending and expanding our Made Smarter digital adoption programme through this decade.

The Plan outlines key measures to improve the business environment and attract investment, including faster grid connections, full expensing and more apprenticeships.

Manufacturing Sector Organisations

Stephen Phipson, CEO of Make UK, the manufacturers’ organisation said:

A battery strategy is very welcome and much needed. Having a joined-up battery plan in place will be critical for the UK economy to benefit fully from new technological opportunities going forward, and we must ensure that manufacturing involves the entire supply chain, right from design to manufacturing and recycling, closely connecting car and battery industries.

Recycling will also be very important to recover those critical materials that are essential for the low-carbon economy, and this joined up Advanced Manufacturing Plan will help deliver better coordination across the whole of the clean energy sectors.

Make UK and industry will continue to work with the government on the practicalities of this plan, including how to incorporate manufacturing supply chains. These supply chains have a key role in supplying components and services for clean energy in the future low-carbon economy and we must ensure that the full potential is delivered to enable our companies to compete on the global stage.

Karen Betts, Chief Executive, The Food and Drink Federation said:

The advanced manufacturing plan will provide critical support to the UK’s largest manufacturing sector in helping to unlock innovative investments in food and drink businesses. The £4.5billion of funding will help to derisk and incentivise investments focused on the transition to net zero and strengthening food security while the expansion of Made Smarter will particularly help SMEs. Making full expensing permanent will support businesses across the sector, boosting productivity and growth.

Richard Torbett, Chief Executive of the Association of the British Pharmaceutical Industry said:

We’ve long believed that the UK’s has the potential to be a world leader in advanced and sustainable medicines manufacturing. This £520 million in support announced by the government will supercharge UK life sciences manufacturing, combatting the increasing international competition to attract major manufacturing investment.

Added to our existing strengths and technical expertise in manufacturing innovation, this announcement is a major step forward in delivering on our shared ambitions for long term growth.

Automotive

Mike Hawes, SMMT Chief Executive said:

Decarbonising road transport is essential if net zero is to be achieved, and that transition must be ‘built in Britain’. The government’s Advanced Manufacturing Plan sets out measures to support the UK automotive supply chain as it undergoes the most significant transition in its history.

The plan, together with a new battery strategy to support the development and production of this critical technology, is essential if the UK is to compete in the face of fierce global competition. These initiatives can only help to attract the investment necessary to seize the growth opportunities a Net Zero economy offers.

Richard Kenworthy, Managing Director, Toyota Motor Manufacturing UK said:

We welcome the announcement of a new Advanced Manufacturing Plan and the priority the Government is giving to the automotive sector.

Our industry is undergoing a significant transition as we make the changes and investments required to secure a zero-carbon future. It is important for manufacturers to continue to work together with the Government to deliver on this goal and ensure the global competitiveness of the UK automotive industry.

This new Plan will help prepare British businesses and the Government to maximise the opportunities this period of change will bring.

Guillaume Cartier, Chairperson, Nissan Africa, Middle East, India, Europe and Oceania, said:

We welcome the Advanced Manufacturing plan for the long-term approach presented for the UK automotive industry.

It addresses a number of important topics that will support our wider electrification strategy as we move to 100% electric vehicles, and also with the demands we’re seeing from consumers for cleaner, smarter, safer cars on the roads.

Jaguar Land Rover said:

JLR welcomes this package of investment and policy announcements for the Advanced Manufacturing sector. The Advanced Manufacturing Plan and UK Battery Strategy is an important first step and we look forward to working with the Government to create the right environment to ensure an innovative and internationally competitive sector.

Aerospace

John Pritchard, President of Civil Aerospace for GKN Aerospace said:

GKN Aerospace welcomes the Government’s Advanced Manufacturing Plan. To maintain its position as a global leader in aerospace manufacturing, the UK needs close collaboration between Government and Industry and significant investment to maintain our competitive advantage. This Plan is a step forward, providing important guidance for building resilience and increasing productivity in our manufacturing supply chain.

Coupled with the announcement to extend the funding of the Aerospace Technology Institute out to 2030/31, the Plan also provides further confidence and a stable base for international businesses to invest in the UK.

The Hydrogen Task Force is a particularly important and welcome development. Hydrogen will be at the core of future sustainable flight, as well as the UK’s wider economy and energy infrastructure. It is critical that Government and Industry collaborate now in order to develop and invest in the supply chain and position the UK as the destination of choice for investment in the future.

Dr Rob Watson, President-Civil Aerospace, Rolls-Royce said:

We warmly welcome the ATI budget extension and the recognition of advanced manufacturing, and aerospace in particular, as priorities for the UK. The ATI extension provides long-term stability in aerospace funding that will allow for investment in technologies that will make our sector more competitive.

The ATI has been instrumental in accelerating the next generation of aerospace innovation since 2013, helping sustain the UK as a global leader in aerospace. The pace and scale of progress on our UltraFan demonstrator, the world’s largest and most advanced jet engine, would not have been possible without the ATI. This additional 5 year commitment to the ATI will give the aerospace industry confidence in the UK’s desire to grow and export.

Kevin Craven, CEO of ADS said:

ADS and our members welcome today’s Advanced Manufacturing Plan publication, reaffirming long-term backing for our world-leading advanced manufacturing sectors, including UK aerospace. This is a very timely intervention given the growing pace of aerospace recovery, huge aircraft order backlog and industries’ continued commitment to net zero.

Our aerospace sector provides high-skilled jobs throughout the country, and set against a backdrop of increasing global competition, the continued commitment towards aerospace R&D is significant. These measures will provide a boost to continued investment in innovation and advanced manufacturing in the UK, in turn securing the future advantage of our industry.

BATTERY

Dame Professor Clare Grey, Co-Chair of the UK Battery Strategy Team and professor at Cambridge University, said:

I – as both an academic working to optimise battery function and understand failure modes and a cofounder of the fast-charging battery company Nyobolt – welcome the publication of the UK battery strategy.

Clarity in the commitments, along with announcements of significant funding out to 2030, will be welcomed by the many industry sectors in the UK working towards achieving next zero, where certainly is key to making key business decisions and investments.

The continued funding is also critical for building on the momentum already achieved in the laboratory, to move some of the early-stage research out into commercial, manufactured products.

The breadth of the strategy – from skills, manufacturing, critical mineral supply chains, financing, recycling and the circular economy, to regulation and speeding up grid connections – along with the commitments towards implementation – will be critical in building battery- and related industries in the UK.

Tom Flack, CEO of Agratas said:

Through our multi-billion-pound investment, Agratas is building the UK’s largest battery cell manufacturing facility and pioneering next-generation battery technologies, powering the transition to net zero and creating thousands of green economy jobs. The Advanced Manufacturing Plan and the UK’s Battery Strategy outline the vision, collaboration and support required to deliver on that ambition. We look forward to working closely with the Government to grow a globally competitive UK battery sector.

Brian Holliday, Managing Director, Digital Industries at Siemens:

The new investment clearly says that UK manufacturing matters. It represents a tremendous boost for our makers that will enable the confidence to invest in innovation, productivity and sustainability.

Key sectors benefit but so does the long tail of small and medium firms which is really important to directly address our recent challenges of weak overall productivity and investment.

The business benefits of digitalisation are now clear, while being an enabler for industrial decarbonisation too – the package of measures announced in bolstering Made Smarter, targeted regulatory reform and sector support, along with our world-class Catapults and Universities now makes the UK one of the best countries on the planet to sustainably design, make and export goods.

Merlin Hyman OBE, Chief Executive, Regen and Electricity Storage Network, said:

The Electricity Storage Network welcome this strategy to develop the UK’s capability in the vital area of battery storage. The UK is leading the way in putting electricity storage at the heart of a high renewables, flexible power system with over 3GW now installed and world leading expertise in battery optimisation.

Developing a UK grid scale storage supply chain, environmental standards, and recycling facilities will be key to the resilience of the sector and to achieving our goals for secure, net zero power and high value jobs in the low carbon industries of the future.

Nicholas Beatty, Founder Director of Zenobē said:

I am delighted to support the Taskforce’s vital work to develop the UK’s domestic battery industry.

As the UK’s largest independent owner of battery storage, Zenobē welcomes these efforts to cut planning and grid connection delays, develop innovative financing for the battery industry, and introduce new models to increase the use of second life batteries.

These measures will help to secure the UK’s green supply chain as we transition to a decarbonised energy and transport system. With the right government support, the UK can be a leading global player in the future battery industry.

Nyobolt said:

We welcome the publication of the first UK Battery Strategy, which highlights the importance of the sector. Long-term commitment is critical for providing the confidence to invest and ensure that the UK plays a leading role in the transition to Net Zero.

As a growing UK battery company making fast charging a reality, we look forward to working with Government to realise this commitment and bring the batteries of the future to the UK today.

The press release issued by the Department for Business and Trade on 26 November 2023.

Business and Trade Secretary Kemi Badenoch has launched the landmark Advanced Manufacturing Plan (AMP) backed by billions to boost Britain’s manufacturing sector.

• Kemi Badenoch launches Advanced Manufacturing Plan (AMP) with over £2bn earmarked for the automotive industry, including batteries, and £975m for aerospace.
• New plan set to build on recent investment wins including up to £2bn from Nissan, £600m from BMW and £4bn from Tata to build a gigafactory.
• Hundreds of thousands of UK jobs on offer in battery sector alone, as new Battery Strategy includes £50m newly allocated government funding to deliver a globally competitive battery supply chain by 2030.
• Plan backs British industry, ensuring the long-term success of the advanced manufacturing sector and reinforces the UK as one of best places in the world to invest and do business.

Plans to build on British excellence in advanced manufacturing to secure long-term private investment and create high-paid jobs have been unveiled by the Business Secretary Kemi Badenoch today (26 November).

The landmark Advanced Manufacturing Plan (AMP) sets out the government’s initiative to ensure the UK is the best place in the world to start and grow a manufacturing business.

As outlined by the Chancellor last week, the government will offer certainty to business by committing more than £4.5 billion in targeted funding to back the long-term future of the UK’s world-leading manufacturing industries – automotive, aerospace, clean energy and life sciences. This includes support for batteries and industries undergoing fundamental changes to remain at the forefront of the global transition to net zero.

The plan outlines the key measures to improve the business environment and attract investment, including faster grid connections, full expensing and more apprenticeships.

It will ensure the UK uses its competitive advantage in manufacturing to become a world leader in the development of zero emissions technology, taking advantage of the thousands of jobs on offer. Our world-leading track record of decarbonisation makes us well placed to seize opportunities in the new global green economy.

This package builds on recent investment wins including up to £2 billion investment from Nissan in Sunderland, the £4 billion Tata gigafactory, the £600 million Electric Mini investment from BMW and Boeing unlocking £80 million of aerospace manufacturing investment in Sheffield, and ensures that the government can continue to help create jobs, grow the economy, and secure the future of great British manufacturing.

Business Secretary Kemi Badenoch said: 

The UK recently overtook France to become the world’s eighth largest manufacturing economy. The Advanced Manufacturing Plan will build on that success by targeting funding at where we have a competitive advantage.

Industry wants a stable, long-term plan that has support for cutting edge technologies and a trade policy that delivers. The Advanced Manufacturing Plan does precisely that, securing the highly-skilled jobs of the future and driving economic growth.

Prime Minister Rishi Sunak said: 

We are going full throttle to back British businesses and make the UK a world leader in manufacturing – which already makes up over 43 percent of all our exports and employs 2.6 million people across the country.

Today’s plan will not only give the industry the long-term certainty they need to grow and invest further in the UK, but it will also lay the foundations to create more jobs and opportunities for people across the country.

As we bring together the world’s biggest CEOs and investors together for the global investment summit tomorrow, this plan – backed by £4.5 billion – and the record sums of investment we’ve already attracted, make undoubtedly clear that the UK is open for business and is a vital part of our plan to grow the economy.

The battery sector alone could create 100,000 highly paid and skilled jobs in the UK and the Government has also today published the UK’s first ever Battery Strategy, outlining our plan for the UK to attract investment and achieve a globally competitive battery supply chain by 2030.

Global companies are already choosing to invest in the UK and for every pound of Government investment in the future of manufacturing, we are leveraging five pounds of additional private sector investment, providing a welcome boost for industry ahead of next week’s Global Investment Summit.

The Advanced Manufacturing Plan will build on this success and ensure we’re creating the right conditions for manufacturing to flourish, and that bureaucracy does not get in the way of investment.

To boost growth in small and medium sized manufacturing businesses more widely, it has also been announced that the government will expand the Made Smarter Adoption programme, offering the scheme to all English regions in 2025-26 before working with the Devolved Administrations to explore expanding the programme further from 2026-27.

Industry Minister Nusrat Ghani said:

Growing the battery industry is vital to positioning the UK as the best location in the world to manufacture electric vehicles, and building on the confidence we’ve given our supply chain through recent successes such as the investments from Tata, BMW and Nissan, plus the wealth of government support available to businesses.

I wanted to be ahead of the curve in working with Industry to produce a Battery Strategy. This will help businesses become more innovative and productive, future-proofing our economy and supporting our ambition towards a cleaner, greener future, and forms a crucial part of our Advanced Manufacturing Plan to back British industry for the long term.

The plan focuses on:

Investing in the future of UK manufacturing

A new Hydrogen Taskforce will maximise investment opportunities for the UK manufacturing of hydrogen propulsion systems. Hydrogen is expected to represent a crucial part of the UK’s future net zero energy system and is critical to supporting the UK’s energy security.

The Government’s Hydrogen Strategy sets out ambitions to reach up to 10GW of hydrogen production capacity by 2030, with at least half coming from electrolytic or ‘green’ hydrogen.

Building supply chain resilience

The prize in getting our battery industry right alone is worth 100,000 jobs by 2040, with thousands of further jobs available in the wider sector.

The UK’s Battery Strategy will seek to invest £50 million in developing the UK’s battery world-class capabilities, emphasising the importance of developing the batteries of the future by leveraging the UK’s world-leading research and innovation, securing a resilient UK manufacturing supply chain, and enabling the development of a vibrant and sustainable sector.

Reducing costs and barriers to business

At the Autumn Statement, the Chancellor announced further measures to back businesses and remove barriers to investment. This includes making the Full Expensing scheme permanent so businesses can invest for less – delivering an effective permanent tax cut of £11 billion a year for businesses who invest in IT equipment, plant and machinery. The move is set to boost business investment by £14 billion and help grow the economy.

With the tax cut now permanent, the UK will continue to have both the lowest headline corporation tax rate in the G7 and the most generous capital allowances in the OECD group of major advanced economies, such as the United States, Japan, South Korea and Germany.  Since the introduction of the super deduction – the predecessor to full expensing – in 2021, investment in the UK has grown the fastest in the G7.

The Advanced Manufacturing Plan also builds on existing support for the sector that includes the British Industry Supercharger ensuring energy costs for key industries like steel, metals, chemicals, and paper producers are in line with other major economies around the world and the Industrial Energy Transformation Fund supporting the deployment of technologies that is enabling hundreds of businesses with high energy use to transition to a low carbon future.

Mike Hawes, SMMT Chief Executive said:

Decarbonising road transport is essential if net zero is to be achieved, and that transition must be ‘built in Britain’. The government’s Advanced Manufacturing Plan sets out measures to support the UK automotive supply chain as it undergoes the most significant transition in its history.

The plan, together with a new battery strategy to support the development and production of this critical technology, is essential if the UK is to compete in the face of fierce global competition. These initiatives can only help to attract the investment necessary to seize the growth opportunities a Net Zero economy offers.

Kevin Craven, CEO of ADS said:

ADS and our members welcome today’s Advanced Manufacturing Plan publication, reaffirming long-term backing for our world-leading advanced manufacturing sectors, including UK aerospace. This is a very timely intervention given the growing pace of aerospace recovery, huge aircraft order backlog and industries’ continued commitment to net zero.

Our aerospace sector provides high-skilled jobs throughout the country, and set against a backdrop of increasing global competition, the continued commitment towards aerospace R&D is significant. These measures will provide a boost to continued investment in innovation and advanced manufacturing in the UK, in turn securing the future advantage of our industry.

Stephen Phipson, CEO of Make UK said:

A battery strategy is very welcome and much needed. Having a joined-up battery plan in place will be critical for the UK economy to benefit fully from new technological opportunities going forward, and we must ensure that manufacturing involves the entire supply chain, right from design to manufacturing and recycling, closely connecting car and battery industries.

Recycling will also be very important to recover those critical materials that are essential for the low-carbon economy, and this joined up Advanced Manufacturing Plan will help deliver better coordination across the whole of the clean energy sectors.   > Make UK and industry will continue to work with the government on the practicalities of this plan, including how to incorporate manufacturing supply chains. These supply chains have a key role in supplying components and services for clean energy in the future low-carbon economy and we must ensure that the full potential is delivered to enable our companies to compete on the global stage.

Secretary of State for Science, Innovation and Technology Michelle Donelan said:

If we are to seize the enormous potential for advanced manufacturing to create jobs and grow the economy in every part of the UK, it is critical that we support our brightest minds in turning brilliant ideas into marketable products, and even entire businesses.

The £61 million investment we are making in battery R&D will help UK manufacturers grow this burgeoning industry, by ensuring they can access the skills, infrastructure and early investment that they need to flourish.

The press release issued by the Department for Business and Trade on 22 November 2023.

The Secretary of State for Business and Trade reacts to today’s Autumn Statement and what this means for businesses and consumers.

At today’s Autumn Statement the Chancellor announced a range of proposals promoted by the Department for Business and Trade that provide further financial backing to UK businesses, will improve regulation, and stimulate investment and growth across the country. The government will further set out its priorities for supporting growth and attracting investment at the Global Investment Summit on Monday 27 November.

Welcoming the Autumn Statement, Business and Trade Secretary Kemi Badenoch said:

My department put forward a number of measures for the Autumn Statement intended to help boost British businesses of all sizes and place their success at the heart of the Government’s agenda.

The Autumn Statement has taken on several of these proposals and gives businesses the certainty to invest in the future, cuts costs through lower taxes, and provides small and medium-sized businesses with greater confidence that they will be paid on time.

As the department for economic growth, DBT will continue to bring together the Government’s work to open markets abroad and back business at home.

The Autumn Statement contained a range of pro-business, pro-growth measures including:

• More than £2 billion over the next five years earmarked for the automotive industry via the Advanced Manufacturing Plan. The funding will support the UK’s manufacturing sector, supply chain and development of zero emission vehicles and will oversee £975 million of funding to support Airbus and Rolls-Royce develop technologies for the next generation of aircraft and engines. The new funding builds on the UK’s existing strong investment environment and support, including support such as the British Industry Supercharger and the Industrial Energy Transformation Fund, as well as cross-economy measures, such as the lowest corporation tax in the G7 and making full expensing for plant and machinery investments permanent.
• Permanent Full Expensing – giving businesses the certainty to confidently invest for less. A company can now permanently claim 100% capital allowances on qualifying main rate plant and machinery investments, meaning that for every pound invested its taxes are cut by up to 25p.
• A business rates support package worth £4.3 billion over the next 5 years will help high streets and protect those small businesses that are the backbones of communities. This includes a rollover of 75% Retail, Hospitality and Leisure relief for 230,000 properties and a freeze to the small business multiplier, which will protect around 90% of ratepayers for a fourth consecutive year.
• We intend to establish a new Growth Fund within the British Business Bank (BBB) with a permanent capital base of over £7bn to crowd-in pension scheme capital to the UK’s most promising businesses.
• Further funding for two BBB programmes – the Long-Term Investment in Technology and Science (LIFTS) scheme which will make £250 million available to successful bidders in order to increase investment in key science and technology sectors, and £50 million for the Future Fund Breakthrough scheme to continue backing businesses which focus heavily on Research and Development.
• SME support – including tougher regulation on late payers, Smarter Regulation on improving price transparency for consumers, the expansion of Made Smarter in Great Britain and continued funding for Help to Grow.
• The existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024, simplifying the system and boosting innovation in the UK.
• Freeport tax reliefs in England will be extended from five to ten years until September 2031, providing greater certainty to businesses looking to invest, delivering growth and jobs, and levelling up the economy.

The press release issued by the Department for Business and Trade on 22 November 2023.

Update on the fifth round of negotiations for a free trade agreement between the UK and the Gulf Cooperation Council.

The fifth round of negotiations for a free trade agreement (FTA) between the UK and the Gulf Cooperation Council (GCC) took place between 5 and 16 November.

The round was hosted by the GCC in Riyadh and held in a hybrid fashion. A number of UK negotiators travelled to Riyadh for in-person discussions with others attending virtually.

Draft treaty text was advanced across the majority of chapters. Technical discussions were held across 21 policy areas over 40 sessions. Good progress was made and both sides remain committed to securing an ambitious, comprehensive and modern agreement fit for the 21st century.

An FTA will be a substantial economic opportunity and a significant moment in the UK-GCC relationship. Total trade was worth £61.5 billion according to latest figures.

The sixth round of negotiations is expected to be held in the first quarter of 2024.

His Majesty’s Government remains clear that any deal signed will be in the best interests of the British people and the United Kingdom economy.