Written questions by Anderson.

What assessment her Department has made of the potential impact of levels of public equity market capitalisation on domestic economic growth.

The UK’s vibrant and dynamic capital markets play a key role in supporting growth as identified in the Financial Services Growth and Competitiveness Strategy Call for Evidence - and the Government committed to strengthening UK capital markets and taking forward an ambitious programme of reforms. The Government will publish the strategy in July. As part of these reforms, the government has also recently delivered legislation to establish the Private Intermittent Securities and Capital Exchange System Sandbox (PISCES) to respond to companies staying private for longer and at scale. It aims to make private secondary markets more efficient with a bespoke regulatory framework, while also providing a steppingstone to public markets.

What assessment her Department has made of the potential impact of private capital market growth on institutional investor behaviour in public markets.

The UK’s vibrant and dynamic capital markets play a key role in supporting growth as identified in the Financial Services Growth and Competitiveness Strategy Call for Evidence - and the Government committed to strengthening UK capital markets and taking forward an ambitious programme of reforms. The Government will publish the strategy in July. As part of these reforms, the government has also recently delivered legislation to establish the Private Intermittent Securities and Capital Exchange System Sandbox (PISCES) to respond to companies staying private for longer and at scale. It aims to make private secondary markets more efficient with a bespoke regulatory framework, while also providing a steppingstone to public markets.

What assessment her Department has made of the adequacy of the UK’s engagement in international financial institutions on debt relief for African countries facing debt distress.

The UK is committed to working with international financial institutions to address country debt vulnerabilities in a timely and coordinated way, providing swift debt treatments where required. We progress this work through international fora and mechanisms, including the G20, Paris Club, IMF and World Bank Boards, and the Global Sovereign Debt Roundtable (GSDR). Through the GSDR – jointly convened by the IMF, World Bank and G20 Presidency – we have engaged closely with newer official creditors, private creditors and debtor countries, and discussions have helped to strengthen collaboration and build greater common understanding on debt issues, including the G20 Common Framework. We fully support the World Bank and IMF’s ‘three pillars’ approach to countries facing liquidity (i.e. short-term payment) challenges. We are pushing the Bank and Fund to accelerate the roll-out in pilot countries and using our voice to encourage others to support We are also actively engaging in the review of the IMF and World Bank’s Debt Sustainability Framework, pushing for more detailed incorporation of longer-term climate and nature risks and investments.

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 she takes to assess the resilience of the UK's international reserves to potential (a) geopolitical and (b) macroeconomic shocks.

The Exchange Equalisation Account (EEA) holds the UK government’s official reserves. HM Treasury appoints the Bank of England as its agent to carry out the day-to-day management of the reserves. The reserves are managed to ensure that the policy objectives, set out in the EEA Act 1979, can be met at all times. These objectives are: Checking undue fluctuations in the exchange value of sterling;Enabling government payments abroad; andCarrying out the UK’s obligations to the IMF A total of £72 billion of additional financing was provided for the reserves between 2008-09 and 2019-20. The size of the UK's reserves stands broadly in line with other comparable economies. HM Treasury manages the liquidity, credit and market risk of the reserves to ensure that they meet the policy objectives of the EEA.

What the criteria used to evaluate the economic risks associated with ending public ownership of NatWest Group were.

On 30 May 2025, the government sold its remaining shares in NatWest Group (formerly Royal Bank of Scotland, RBS), bringing to an end the public ownership of banks resulting from the 2007-2009 global financial crisis. It is not government policy to pursue state ownership of firms in the financial services sector. The government provided support to RBS, as part of a series of interventions in the financial sector, to protect ordinary savers and businesses from the collapse of a bank which was vital to the functioning of the UK economy and financial system. With the original policy objective - to preserve financial and economic stability at a time of crisis – achieved, returning NatWest to the private sector was the right choice for both taxpayers and the bank, helping to promote financial stability and a more competitive banking sector in the UK. Regarding the resilience of the sector, since the global financial crisis, the government has successfully implemented reforms to strengthen the ability to manage bank failures safely, and to do so in a way that protects the wider economy and minimises the need for taxpayer support. In addition, the development of a more robust regulatory framework since the financial crisis has helped strengthen the resilience and stability of both individual firms and the wider financial system.

Whether her Department plans to review its approach to state ownership of financial institutions.

On 30 May 2025, the government sold its remaining shares in NatWest Group (formerly Royal Bank of Scotland, RBS), bringing to an end the public ownership of banks resulting from the 2007-2009 global financial crisis. It is not government policy to pursue state ownership of firms in the financial services sector. The government provided support to RBS, as part of a series of interventions in the financial sector, to protect ordinary savers and businesses from the collapse of a bank which was vital to the functioning of the UK economy and financial system. With the original policy objective - to preserve financial and economic stability at a time of crisis – achieved, returning NatWest to the private sector was the right choice for both taxpayers and the bank, helping to promote financial stability and a more competitive banking sector in the UK. Regarding the resilience of the sector, since the global financial crisis, the government has successfully implemented reforms to strengthen the ability to manage bank failures safely, and to do so in a way that protects the wider economy and minimises the need for taxpayer support. In addition, the development of a more robust regulatory framework since the financial crisis has helped strengthen the resilience and stability of both individual firms and the wider financial system.

What analysis was conducted on the potential impact of ending public ownership of NatWest Group on the resilience of the financial sector.

On 30 May 2025, the government sold its remaining shares in NatWest Group (formerly Royal Bank of Scotland, RBS), bringing to an end the public ownership of banks resulting from the 2007-2009 global financial crisis. It is not government policy to pursue state ownership of firms in the financial services sector. The government provided support to RBS, as part of a series of interventions in the financial sector, to protect ordinary savers and businesses from the collapse of a bank which was vital to the functioning of the UK economy and financial system. With the original policy objective - to preserve financial and economic stability at a time of crisis – achieved, returning NatWest to the private sector was the right choice for both taxpayers and the bank, helping to promote financial stability and a more competitive banking sector in the UK. Regarding the resilience of the sector, since the global financial crisis, the government has successfully implemented reforms to strengthen the ability to manage bank failures safely, and to do so in a way that protects the wider economy and minimises the need for taxpayer support. In addition, the development of a more robust regulatory framework since the financial crisis has helped strengthen the resilience and stability of both individual firms and the wider financial system.

What assessment her Department has made of the potential impact of foundation apprenticeships on addressing sectoral skills shortages in (a) Milton Keynes and (b) Buckinghamshire.

This government’s first mission is to kickstart economic growth. We know that we need to support employers to invest in skills training and fuel innovation in businesses across the country.That is why we are transforming the apprenticeships offer into a new growth and skills offer, to support greater flexibility for employers and learners. Foundation apprenticeships are a key part of this offer. They will support employers in key sectors to meet their current and future skills needs by developing new opportunities to engage with younger employees and build pipelines of talent. This is expected to drive up to 30,000 apprenticeship starts across this Parliament.The first foundation apprenticeships will be focused on industrial strategy and priority areas including construction, engineering, health and social care, and digital. This will begin in August with the introduction of seven new foundation apprenticeship standards, including three in construction, enabling young people to earn a wage while developing vital skills. We will continue exploring how to make foundation apprenticeships work in other sectors, such as hospitality and retail.The growth and skills offer is informed by Skills England’s engagement with a wide range of stakeholders, to ensure that levy-funded training meets the needs of employers and learners.

What steps her Department is taking to support employer engagement with the apprenticeship programme in SMEs in Milton Keynes.

I refer my hon. Friend, the Member for Buckingham and Bletchley to the answer of 19 March 2025 to Question 37179.

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.

Commonwealth and Development Affairs, what criteria is being used to allocate development finance support to the (a) manufacturing, (b) agricultural and (c) energy sectors in Africa.

Our allocation of development finance to the highlighted sectors is currently informed by a mixture of criteria ranging from local priorities to alignment with overall Foreign, Commonwealth and Development Office (FCDO) objectives. We will publish our Africa Approach later this year, outlining a transformed partnership that engages with African countries as equals and will inform future allocations. We will publish the FCDO's final 2025/26 Official Development Assistance programme allocations in the Annual Report & Accounts in July, and finalise budgets for the rest of the Spending Review period later this year.

Communities and Local Government, what discussions his Department has had with representative bodies of small businesses on the impact of commercial lease conditions in high street premises on the financial viability of those businesses.

The government recognises that both landlords and tenants have raised concerns about the commercial leasehold framework. That is why the government supports the Law Commission's ongoing review of the Landlord and Tenant Act 1954, which aims to modernise the commercial leasehold framework, ensuring it is fit for today’s market. The Department has sought views on leasing issues from business representative organisations, including those representing small businesses, and is committed to supporting thriving high streets.

What steps her Department is taking to allocate the £20 million fund to services supporting victims of abuse in (a) Buckinghamshire and (b) Milton Keynes.

On Monday 12 May, we announced a £19.9m funding boost to support thousands more victims of violence against women and girls (VAWG). This funding will help victims access specialist services . This includes £6m for specialist helplines to support victims of VAWG across England and Wales, £2m for a Flexible Fund administered by Women’s Aid Federation England, which offers direct cash payments to victims fleeing abuse across England and Wales, and £2.4 million for the Supporting Migrant Victims Scheme, a national programme that supports migrant victims of abuse who are unable to access public funds. This comprehensive national package reflects our commitment to ensuring that all victims and survivors - regardless of their background, circumstances or postcode - can access the support they need.Regarding investment into local services, on 28 November 2024 the Government announced a £30m funding increase to the Domestic Abuse Safe Accommodation Grant, bringing the total investment to £160m in 2025-26. This will enable local authorities to invest in essential support in frontline safe accommodation services. Furthermore, Police and Crime Commissioners (PCCs) in England and Wales also receive annual grant funding from the MOJ’s victim and witness budget to commission local support services for victims of all crime types. PCCs are best placed to understand their local communities and providers and to commission appropriate support to meet that need.

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 her Department is taking to increase the number of available driving tests in Buckingham and Bletchley constituency.

The Driver and Vehicle Standards Agency’s (DVSA) main priority is upholding road safety standards while it works hard to reduce car practical driving test waiting times.On the 23 April, the Secretary of State for Transport appeared before the Transport Select Committee and announced that DVSA will take further actions to reduce waiting times for all customers across Great Britain. Further information on these actions and progress of DVSA’s plan to reduce driving test waiting times, which was announced in December 2024, can be found on GOV.UK. The nearest driving test centres to Buckingham are Aylesbury, Bletchley (Milton Keynes) and Leighton Buzzard. As a result of a recent recruitment campaign, the DVSA is in the process of interviewing applicants. So far one applicant has been successful with the interview process for Aylesbury or Bletchley, with a further two applicants currently undertaking the drive element of the recruitment process. The DVSA is continuing with its recruitment campaigns, including for these areas.

What steps his Department is taking to improve the provision of elective care in Milton Keynes.

As of March 2025, performance against the 18-week standard stood at 59.8% nationally. For Milton Keynes University Hospital NHS Foundation Trust, it stood at 47.79%.The Government has committed to achieving the NHS Constitutional standard that 92% of patients should wait no longer than 18 weeks from referral to treatment by March 2029. In January 2025, the Government published the Elective Reform Plan, which sets out the productivity and reform efforts needed to return to this standard.Milton Keynes University Hospital has received additional regional and national support from NHS England across electives. This has included site visits and funding to support additional capacity. The Lloyds Court Community Diagnostic Centre, which started activity from its final site in October 2024, has significantly increased elective and cancer diagnostic capacity. NHS England is working closely with Bedfordshire, Luton and Milton Keynes Integrated Care Board to develop an appropriate elective hub solution for the system. Milton Keynes University Hospital has also been confirmed as a Wave 1 scheme of the New Hospital Programme, with construction expected to start in 2027/2028. This will provide significant additional elective capacity to cope with the growing needs of residents. Milton Keynes University Hospital is focusing on all areas of efficiency to ensure that it makes the most of its facilities and continues to achieve progress on reducing waiting lists, including a focus on outpatient transformation, Getting It Right First Time, implementing Patient Initiated Follow Ups, minimising Did Not Attend and improving theatre productivity. Other work to improve the provision of elective care includes: referral optimisation, with Advice & Guidance implementation in primary care to improve and maximise pre-hospital pathways; diagnostic pathways, with two community diagnostic centres operational in Milton Keynes, namely Whitehouse Park and Lloyds Court, which will support growing diagnostic demand and improve elective pathways; waiting list validation and clinical prioritisation, ensuring that the waiting list is up to date and accurate, with Milton Keynes University Hospital being in the first wave for this; and patient choice, with provider accreditation process in place across Bedfordshire, Luton and Milton Keynes giving the opportunity for providers to seek a contract for healthcare services where patient choice applies and thus improves elective provision.

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 plans to take to (a) monitor and (b) evaluate the potential impact of advertising restrictions on rates of childhood obesity following their implementation.

The Government is taking bold action to tackle the childhood obesity crisis and create the healthiest generation of children ever. We are progressing with the implementation of the advertising restrictions for less healthy food or drink products on television and online. This includes a 9pm watershed on television and a 24-hour restriction on paid-for advertising of these products online. These restrictions are expected to remove up to 7.2 billion calories from children’s diets in the United Kingdom per year.We will publish a post-implementation review within five years of implementation. We have commissioned various studies through the National Institute for Health and Care Research (NIHR) to feed into this review, which will allow us to monitor and evaluate the effectiveness and impact of the restrictions.

What steps her Department is taking to help increase collaboration between UK and Qatari financial institutions in (a) capital markets, (b) sustainable finance and (c) financial technology, in the context of the Memorandum of Understanding on financial services.

The UK and Qatar share a strong trade and investment partnership, with a total trade volume of over £5.6 billion in 2024, contributing to economic growth, diversification, innovation and job creation. To reflect the important role that the financial services sector plays in achieving both the UK Government’s economic growth mission and Qatar’s National Vision 2030, the Chancellor and Qatar’s Finance Minister signed a Financial Services Memorandum of Understanding (MoU) between HM Treasury and the Qatar Ministry of Finance in December 2024. The MoU identifies capital markets, sustainable finance, and fintech as priority areas of interest. Work is underway to identify opportunities for collaboration within these subsectors, and the first annual UK-Qatar Financial Services Working Group will be held later this year.