Written questions by Anderson.

Whether he plans to bring forward legislative proposals to implement the (a) ethanol and (b) beef quotas agreed as part of the US-UK Economic Prosperity Deal.

On 16 June, we announced concrete progress towards the implementation of the UK-US trade deal as agreed on 8 May. The US Executive Order confirmed that the US will put in place the agreed quota for car exports to the US, reducing US tariffs from 27.5% to 10%. The UK will lay legislation to create our agreed beef and ethanol quotas in line with US implementation. The government remains focused on making sure British businesses can secure the benefits of the deal as soon as possible. The Economic Prosperity Deal and any implementing legislation will be presented to Parliament in due course.

Whether his Department has made an assessment of the potential impact of the Economic Prosperity Deal on the UK’s domestic beef sector and associated supply chains.

As part of the US deal, we have agreed new reciprocal market access on beef – with UK farmers given a guaranteed quota for 13,000 metric tonnes of beef exports at a very low tariff rate (for example, 4.4 cents per kg on many products). For the first time ever, this will open up exclusive access for UK beef farmers to the US market. This is a major opportunity for British farmers to sell their high-quality British beef to a market of over 300 million people, helping farmers grow their business.

What assessment he has made of the potential impact of the Australia-United Kingdom Free Trade Agreement Joint Committee's decisions on food and drink exporters from Buckinghamshire.

The Australia-United Kingdom Free Trade Agreement Joint Committee which met on 03/06/2025, did not include decisions specific to food and drinks exports; no assessment has therefore been made of its impact on food and drink exporters from Buckinghamshire.The Joint Statement (https://www.gov.uk/government/news/australia-uk-free-trade-agreement-joint-committee-statement) issued following the committee provides an overview of the discussion undertaken as part of the Joint Committee.The total value of UK exports of food and drink products to Australia was £429.5m in 2024, up 8.9% on 2023.

What assessment his Department has made of the effectiveness of enforcement mechanisms available to the Small Business Commissioner for resolving payment disputes.

The Small Business Commissioner has played a crucial role in helping small businesses get paid on time since the role was introduced in 2016. However, this Government is aware of the challenges that small businesses continue to face with regards to late payment.The Government is committed to consulting on proposals that would increase the powers available to the Small Business Commissioner in order to improve its effectiveness in tackling late payments and poor payment practices. The consultation outcome will be published shortly.

What assessment he has made of the potential impact of the UK-US trade agreement on UK aerospace supply chains.

On 16 June the US confirmed that certain UK aerospace products will no longer be subject to US tariffs. This deal is a win for the UK's world-class aerospace sector which was facing additional 10% tariffs, helping make companies more competitive and allowing them to continue to be at the cutting edge of innovation. The removal of US tariffs helps suppliers continue to do business in the US and deliver growth in the UK.

What steps his Department is taking to support British aerospace manufacturers to utilise UK-US defence trade cooperation arrangements.

My Department welcomes the opportunities that come from the Government’s recent announcements on trade arrangements with the USA, alongside those from our longstanding defence cooperation agreements, which support our growth ambitions. We work directly with British Industry and trade associations to provide appropriate support to UK business including the aerospace sector, to access opportunities, including at trade shows in the US and globally, such as the recent Paris Air Show and DSEI later this year.

What assessment his Department has made of the potential impact of limited capital access on scale-up firms outside of (a) London and (b) the South East.

Businesses in shallower finance markets outside London and the South East are less likely to be able to access growth capital, meaning high-potential businesses may be forced to relocate or else accept slower growth. The British Business Bank’s Nations and Regions Investment Funds help close the gap by providing finance for businesses to invest and grow across the UK, meaning the growth and jobs created by businesses benefit local communities. In the longer term, the Funds will create more dynamic ecosystems made up of investment-savvy business owners and private investors who know there are good investment propositions available.

What estimate his Department has made of the number of companies requiring additional funding to help scale-up.

The estimated equity finance gap (the difference between actual equity investment and potential equity investment) for all but established companies was £7.5 billion in 2021. [1] There is an equity finance gap in every region and nation of the UK; London has the largest absolute equity finance gap, while Yorkshire and Humber has the largest relative gap. [2] The British Business Bank is helping to close that gap through its Nations and Regions Investment Funds and the Regional Angels Programme, which also attract additional private investment for businesses outside London and the South East. [1] Supporting Innovative Start-Up and Growing Businesses: Equity Finance Provision through the Pandemic: Interim Report by Marek Kacer, Nick Wilson :: SSRN (DBT commissioned and funded)[2] Equity Finance and the UK Regions (BEIS research paper)

What steps he is taking to improve access to finance for small and medium-sized businesses in Buckingham and Bletchley constituency.

The British Business Bank's finance programmes, including the Start Up Loans scheme, help SMEs in Buckingham and Bletchley to access the finance they need.Together with the Treasury, my department launched a call for evidence on SME access to finance to assess existing policies and identify barriers. The call aims to improve access to finance and support SME growth. We are considering the responses we have received and will announce further measures in due course.

What steps his Department is taking to assess the investment risk environment for firms seeking to operate in African growth markets.

The Department for Business and Trade works across Africa offering direct support to UK businesses looking to expand their business in the region. This includes a dedicated team that advises UK businesses entering markets about doing business and investment environment. DBT focuses on markets, sectors, and deals where the UK has a competitive edge.

What steps his Department has taken to increase trade and investment opportunities for food and drink producers in Buckinghamshire.

The Department for Business and Trade has significantly increased trade and investment opportunities for food and drink producers through several trade agreements, including the UK-EU Trade and Cooperation Agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the UK-India Free Trade Agreement. These agreements will open new export markets for businesses in Buckinghamshire and across the UK. Businesses can also benefit from the expanded Office for Investment, which will make it easier for top investors to work with government with the ability to originate and execute major deals, develop commercially attractive investment propositions in partnership with local political leaders and market the UK to investors around the world.

What steps his Department is taking to support businesses in the Buckingham and Bletchley constituency to benefit from the UK-Japan strategic partnership.

The Government is taking forward a new Industrial Strategy Partnership with Japan to support all UK businesses, including those from Buckingham and Bletchley through joint initiatives in innovation, clean energy, and advanced manufacturing and furthering our economic security partnership in support of growth, jobs and access to essential goods and services needed for the UK's future prosperity. The Government is also supporting businesses in taking advantage of the UK-Japan Comprehensive Economic Partnership Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in a variety of ways, from online export guidance to events with local chambers and trade associations.

What steps his Department is taking to ensure regional access to investment under the UK-UAE Investment Partnership.

As part of the UK-UAE Sovereign Investment Partnership, the Office for Investment has worked with Emirati investors to explore investment opportunities across the UK and UAE investment can be found across the UK, driving growth and prosperity across key sectors to the mutual benefit of both countries.These investments include offshore wind in Scotland and advanced material research in North-West England. An expanded Office for Investment is working to make the UK the first choice for investment and the best place in the world to do business, turning regional growth plans into clear and commercially credible pipelines of investment opportunities.

What assessment his Department has made of the potential impact of the Qatar Investment Authority's Strategic Investment Partnership on the clean energy sector in the UK.

The 2022 Qatar-UK Strategic Investment Partnership is a long-term framework through which the two countries collaborate across a number of key UK industries, creating jobs and growth through investment, including in sectors vital for clean growth and decarbonisation through technology and innovation. December 2024’s announcement from Qatar to invest £1bn in UK climate technology demonstrates the strength of the arrangement’s potential impact.

What assessment his Department has made of the potential impact of the UK-New Zealand trade agreement on SME exporters located in (a) Buckinghamshire and (b) Milton Keynes.

The UK-New Zealand FTA benefits every region of the UK including Buckinghamshire and Milton Keynes. It also includes commitments to support SMEs to trade, including through a standalone SME chapter. Data is not collected centrally on the impact of the UK-New Zealand trade agreement on SME exporters located in Buckinghamshire and Milton Keynes. However, since entry into force, there are early indications of positive uptake of the agreement’s benefits by British exporters. According to official data from New Zealand, between June 2023 and Dec 2024 £164.2m (80.7%) of goods imports into New Zealand from the UK used preferential tariffs. Had these occurred at standard Most Favoured Nation (MFN) tariff rates, they could have encountered an additional £9.3m in duties.

What assessment his Department has made of the effectiveness of UK-India trade talks in supporting advanced manufacturing.

The UK-India FTA is estimated to increase bilateral trade by £25.5 billion, and UK GDP by £4.8 billion each and every year in the long term. As part of this agreement, India will cut tariffs on a number of advanced manufacturing goods such as automotives, electrical circuits, high-end optical products, and medical devices. We will set out further information on the sectoral impacts of this agreement in our Impact Assessment.

What steps his Department is taking to support investment into key growth sectors through the UK-Gulf economic partnerships.

The Department for Business and Trade maintains strong relations with Gulf investors and encourages them towards opportunities in key growth sectors through the Strategic and Sovereign Investment partnerships coordinated by the Office for Investment. We also encourage investment through broader diplomatic forums, such as the UK-Saudi Strategic Partnership Council. Furthermore, we are negotiating a GCC Free Trade Agreement that will build on our strong investment relationship and support further investment, including in UK growth sectors.

What data his Department holds on the proportion of British Business Bank-backed loans which include personal guarantee requirements from borrowers.

The British Business Bank utilises accredited delivery partners to deliver its schemes. Under the Growth Guarantee Scheme (formerly the Recovery Loan Scheme), delivery partners are required to apply personal guarantees where they would in the course of their normal commercial lending. Under GGS and RLS 3, approximately 70% of facilities have been recorded by the lender as having a personal guarantee attached.

How many SMEs located in (a) Buckinghamshire and (b) Milton Keynes in receipt of British Business Bank support in the last 12 months also sought finance from high street banks.

The Department for Business and Trade does not hold data relating to businesses also seeking finance from high street banks.

What estimate his Department has made of the proportion of SMEs in (a) Buckinghamshire and (b) Milton Keynes that have secured angel investment in the last 24 months.

Business angels are a significant source of equity investment for start-up and early-stage businesses. Angel investments are typically private arrangements and therefore there is no requirement for them to be publicly reported. The British Business Bank supports angel investment through its Regional Angels Programme, which helps reduce regional imbalances in access to early-stage equity finance for smaller businesses across the UK. As at March 2024 the Regional Angels Programme has committed £219m and supported 593 businesses. In late June the British Business Bank will publish its annual Small Business Equity Tracker 2025. The report will include an analysis of the UK Business Angel Market and will also provide detail on equity deals in the South East region.