Written questions by Anderson.

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.

How many companies in the scale-up category have accessed British Business Bank-backed debt finance in the last 24 months.

The British Business Bank publishes performance data on the Growth Guarantee Scheme (GGS) on a quarterly basis. Up to 31 December 2024, GGS has been utilised by accredited lenders to enable 13,447 scheme facilities, totalling £2.11 billion. The data is broken down by facility status, lender, nation and region, sector, facility type and size, company size, turnover and age of business, but does not define facilities by scale-up category.

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.

Whether his Department has made an assessment of trends in the level of tiered lending rate structures in SME finance products offered by UK-regulated banks since 2022.

Tiered interest rates relate to retail deposits and personal loans, not commercial finance. Bank of England data shows that interest rates on lending by banks to UK SMEs are as follows:In March 2025, effective interest rates for new SME loans were 6.75%In March 2024, effective interest rates for new SME loans were 7.49%In March 2023, effective interest rates for new SME loans were 6.36%In March 2022, effective interest rates for new SME loans were 3.49%Source: Bank of England

What data his Department holds on lending approval rates for SMEs applying for finance to invest in (a) technology, (b) commercial premises and (c) workforce training since 2022.

Earlier this year, DBT launched a call for evidence on access to finance to better understand the barriers that SMEs experience when applying for loans. However, currently available results from the SME Finance Monitor provides the following data on SMEs needing funding for R&D and new premises:In 2024, 7% of SMEs reported a need for funding. Of those SMEs reporting a need for funding, 6% needed funding for new premises and 4% needed funding for R&D.In 2022, 6% of SMEs reported a need for funding. Of those SMEs reporting a need for funding, 3% needed funding for new premises and 5% needed funding for R&D.In 2024, 47% of all applications for new or renewed finance by SMEs were successful.In 2022, 62% of all applications for new or renewed finance by SMEs were successful.Source: SME Finance Monitor 2024 and 2022

What assessment his Department has made of the potential impact of foreign direct investment screening mechanisms on UK economic sovereignty.

The UK balances an open investment environment to facilitate growth while protecting the areas of our economy that are the most sensitive to national security. The National Security and Investment Act supports our economic sovereignty by giving us power to intervene where we need to, while allowing the vast majority of inward investment to proceed.The NSI Act was inspired by, and brought the UK’s approach to investment screening in line with, many other countries, including our close allies. The Act is a product of close international cooperation to ensure the UK’s investment screening regime draws on global best practice.

What steps his Department is taking to promote exports from (a) defence and (b) aerospace manufacturers.

DBT works with defence and aerospace companies to open markets, tackle trade disputes, provide SME support, and connect business to export opportunities.Through the Aerospace Growth Partnership and Aerospace Technology Institute programme we support industry to increase supply chain productivity, competitiveness, innovation and exports. In defence, we work with industry to develop campaigns which pursue a ten-year pipeline of global opportunities. In 2023 the UK won £14.5bn defence orders; and in 2024 exported £23bn of domestically produced aerospace goods.The Industrial Strategy will set out our further support for these sectors.

What steps he is taking to help improve the representation of women in senior leadership positions within large (a) public and (b) private companies.

Promoting equal opportunities for women is a key part of this Government's Plan for Change, ensuring fair access to the best jobs. To that end, the Department for Business and Trade sponsors the FTSE Women Leaders Review, which collaborates with the UK's top public and private companies to achieve at least 40% representation of women on boards and at senior management levels.The 2025 report evidences real progress in representation of women leaders across the top of UK businesses. The Government will continue to work with UK business and the Review to ensure the continuation of this promising momentum.

How the Office for Investment plans to engage with local authorities and combined authorities to (a) identify and (b) promote investment opportunities.

We work with local and combined authorities to promote the most significant investment opportunities, by providing compelling products for use by the department’s UK and international teams.With the expanded Office for Investment, we will build further on...

How many jobs were created in (a) Milton Keynes and (b) Buckinghamshire as a result of foreign direct investment in the last year.

Official Statistics at https://www.gov.uk/government/statistics/dbt-inward-investment-results-2023-to-2024 show 13 Foreign Direct Investment (FDI) projects landed in Buckinghamshire Local Enterprise Partnership (LEP) in 2023-24. This includes single site ...

What the estimated economic impact of foreign direct investment projects in (a) Milton Keynes and (b) Buckinghamshire has been in the last five years.

Official Statistics at https://www.gov.uk/government/statistics/dbt-inward-investment-results-2023-to-2024 show 13 Foreign Direct Investment (FDI) projects landed in Buckinghamshire Local Enterprise Partnership (LEP) in 2023-24. This includes single site ...

How the Office for Investment will assess the potential impact of foreign direct investment on domestic businesses in key sectors.

Investment is at the heart of the government’s growth mission, increasing the number of good, well-skilled jobs and improving productivity across the country. Foreign direct investment is one part of this and can support domestic businesses directly throu...

What steps he is taking with Cabinet colleagues to help encourage (a) women and (b) people from ethnic minorities to found start-up companies.

This government is working to advance equality of access to start-up opportunities irrespective of gender or race. Everyone who can and wants to set up a small business should have access to support to do so, whether through direct government support or t...

What steps his Department is taking to encourage (a) women and (b) people from ethnic minorities to found start-up companies.

Start-up companies, including those founded by women and people from ethnic minorities, are essential to our economic success. All businesses can access support through the Business Support Service, the gov.uk website, their local Growth Hub, and Help to ...

Whether his Department plans to implement the recommendations of the policy paper entitled The Harrington Review of Foreign Direct Investment, published on 22 November 2023.

The Department for Business & Trade is leading and supporting on many initiatives that deliver the recommendations set out in the Harrington Review. This includes; developing the Industrial Strategy to drive long-term sustainable, inclusive and secure...

What steps the Office for Investment is taking in response to global economic trends to maintain the attractiveness of the UK as an investment destination.

To respond to global economic trends and increasing competition for future industries, the Government has announced a set of first steps to improve the UK’s attractiveness as an investment destination, including through driving planning reform and launchi...

What metrics his Department uses to assess the performance of the Office for Investment; and how it has performed against those metrics in the last year.

The Department for Business and Trade uses a range of metrics and data to review the performance of its investment promotion function, of which the Office for Investment is a part. These include internal evidence, for instance on the number of projects DB...

What initiatives the Office for Investment has introduced to attract investment in small and medium-sized enterprises in the UK.

The service the Department for Business and Trade (DBT) offers is tailored to investors’ needs and the value of their projects. The Office for Investment (OfI) focuses on supporting a select number of the highest value investments. For lower value investm...