Written questions by Anderson.

Food and Rural Affairs, how funding from the farming innovation programme will be allocated among different agri-technology research and development projects.

Applicants to the Farming Innovation Programme are assessed by the Programme’s delivery partner, Innovate UK, on how they address a particular challenge identified by industry (for industry-led partnership competitions) or by Defra (for thematic competitions) following submission of their application. We seek a balanced portfolio approach, which means that funding can be allocated in a way to benefit all farming sectors, while projects are assessed on their individual merit.

How many children in (a) Milton Keynes and (b) Buckinghamshire are expected to benefit from the increase in the Early Years Pupil Premium to £1 per hour in 2025-26.

Early education gives all children the best start in life. That is why we are delivering the largest ever uplift to the early years pupil premium, increasing the early years pupil premium rate by over 45%, from 68p per hour in the 2024/25 financial year to £1 per hour in the 2025/26 financial year, equivalent to up to £570 per eligible child per year. The early years pupil premium rate will be the same for all age groups. Early years funding, including early years pupil premium, is paid on the basis of part-time equivalents (PTEs) where one PTE is equivalent to a child attending a setting for 15 hours a week over 38 weeks. We expect to fund 862.52 PTEs in Buckinghamshire and 547.01 PTEs in Milton Keynes at the increased early years pupil premium rate in the 2025/26 financial year. Final allocations will be paid on updated census and headcount data. More information on the 2025/26 financial year early years allocations and estimated PTEs can be found on GOV.UK.

What steps he is taking to ensure early education providers in (a) Milton Keynes and (b) Buckinghamshire comply with the updated statutory guidance on additional charges for government-funded entitlements.

Local authorities in England have a statutory duty to secure funded early education and childcare for eligible children in their area. The early education and childcare statutory guidance sets out what local authorities must do as required by legislation, and what they should do to meet their statutory duties. To support local authorities with their statutory duties, the department recently published updated statutory guidance, which will come into effect in April 2025, reaffirming that whilst providers can charge parents for some additional extras, these charges must not be mandatory. The updates to the guidance will support local authorities to take a more consistent approach to implementing the rules across providers, including in Milton Keynes and Buckinghamshire. Local authorities are responsible for implementing the guidance at a local level and can intervene where the guidance is not being followed.

What the projected allocation of the expansion grant for early education providers in (a) Milton Keynes and (b) Buckinghamshire will be for financial year 2025-26.

In 2025/26, the government plan to spend over £8 billion on the early years entitlements. This government has increased the early years pupil premium by 45% and are providing further supplementary funding of £75 million for the Early Years Expansion Grant. Buckinghamshire will receive £834,187 and Milton Keynes will receive £430,010 in Early Years Expansion Grant funding. We have now published full details of allocations and conditions of grant, which are available here: https://www.gov.uk/government/publications/early-years-expansion-grant-2025-to-2026. We expect local authorities to communicate all funding allocations to providers within six weeks of the publication of rates, that is by 10 April 2025.

Commonwealth and Development Affairs, what steps he is taking with Cabinet colleagues to encourage inward investment into the UK.

The Foreign Secretary has tasked the Foreign, Commonwealth and Development Office (FCDO) to use its diplomatic influence to champion the UK economy overseas. Our diplomats will be the sales force for UK plc, working with colleagues from across government to ensure we are attracting investment to the UK. This includes directly working with businesses and partner governments, such as a recent Foreign Secretary hosted business roundtable with senior UK representatives from top Japanese firms who have invested in the UK.In addition, the National Security and Investment Act (NSI) will also aid the UK's growth ambitions by allowing the Government to intervene in transactions that threaten national security.

What steps his Department is taking to help meet the mental health needs of children from underserved communities in (a) Buckinghamshire and (b) Milton Keynes.

We know that waits for children and young people's mental health services are far too long and that some disadvantaged groups are less likely to access support. That is why the National Health Service’s planning guidance for 2025/26 makes it clear that one of the priorities for children's mental health services is to reduce local inequalities in access to children and young people’s mental health services between disadvantaged groups, including in Buckinghamshire and Milton Keynes, and the wider population. The Government will also recruit 8,500 additional mental health workers across child and adult mental health services and provide access to specialist mental health professionals in every school through expanding Mental Health Support Teams, so that every young person has access to early support to address problems before they escalate. Early intervention and prevention support in the community is vital. That is why we are providing £7 million of funding to extend support for 24 Early Support Hubs that have a track record of helping thousands of young people in their community.

Food and Rural Affairs, whether he has made an assessment of the potential impact of the transformation of the Animal and Plant Health Agency facility at Weybridge into a National Biosecurity Centre on bio-security measures for farms in Buckinghamshire.

Defra has committed to transforming the Animal and Plant Health Agency facility at Weybridge into a state-of-the-art National Biosecurity Centre. This will ensure that the UK continues to prevent, detect and respond to the increasing threats from animal diseases. Outbreaks are costly so this will provide a boost to farmers in Buckinghamshire and across the country, by protecting their livelihoods from the catastrophic and distressing impacts of animal diseases.

What assessment she has made of the potential impact of recent trends in the level of retail investment on economic (a) growth and (b) resilience.

The Government wants to see more consumers participate in capital markets and benefit from the long-term financial security and returns that investing can provide. The Financial Services Growth & Competitiveness Strategy call for evidence, which closed on 12 December, identified that increasing retail participation in capital markets could support long-term sustainable growth within the sector and the wider economy. The call for evidence welcomed further evidence on how to improve consumer engagement with investing, and the Government is considering the feedback provided. The Government is already taking forward work to improve the information available to retail investors to help with their decision-making. This includes reforms to the UK’s retail disclosure regime and exploring options to expand the availability of support through the joint Government and FCA review of the boundary between financial advice and guidance.

What assessment she has made of the potential impact of new UK-China over-the-counter bond trading on future trends in the UK's economic growth rate.

As the Chancellor’s Statement to the House on 14th January set out, the dialogue has delivered a set of tangible benefits to ensure that British firms have greater access to the world’s second largest economy, while safeguarding our national security and securing commitments to enhance financial regulatory and supervisory cooperation. The total value of what was agreed is worth £600 million over the next five years for the UK economy and sets us on course to deliver up to £1 billion of value for the UK economy. In particular, the agreement secured: new licences and quota allocations for UK asset managers, which will immediately improve their operating access and competitiveness in China; the launch a feasibility study into a UK-China Wealth Connect; the launch of UK-China over-the-counter bond business, which allows international investors to trade and settle RMB bonds more easily through the UK; and a commitment for the issuance of Sovereign and Corporate green bonds in the UK solidifying the City’s role as a Global Financial Centre and benefitting UK firms through increased fees for delivering this business.

What steps the Government plans to take to help asset management firms access the Chinese market.

As the Chancellor’s Statement to the House on 14th January set out, the dialogue has delivered a set of tangible benefits to ensure that British firms have greater access to the world’s second largest economy, while safeguarding our national security and securing commitments to enhance financial regulatory and supervisory cooperation. The total value of what was agreed is worth £600 million over the next five years for the UK economy and sets us on course to deliver up to £1 billion of value for the UK economy. In particular, the agreement secured: new licences and quota allocations for UK asset managers, which will immediately improve their operating access and competitiveness in China; the launch a feasibility study into a UK-China Wealth Connect; the launch of UK-China over-the-counter bond business, which allows international investors to trade and settle RMB bonds more easily through the UK; and a commitment for the issuance of Sovereign and Corporate green bonds in the UK solidifying the City’s role as a Global Financial Centre and benefitting UK firms through increased fees for delivering this business.

What assessment she has made of the potential impact of China's commitment to issue an inaugural offshore sovereign green bond on the competitiveness of the domestic financial sector.

As the Chancellor’s Statement to the House on 14th January set out, the dialogue has delivered a set of tangible benefits to ensure that British firms have greater access to the world’s second largest economy, while safeguarding our national security and securing commitments to enhance financial regulatory and supervisory cooperation. The total value of what was agreed is worth £600 million over the next five years for the UK economy and sets us on course to deliver up to £1 billion of value for the UK economy. In particular, the agreement secured: new licences and quota allocations for UK asset managers, which will immediately improve their operating access and competitiveness in China; the launch a feasibility study into a UK-China Wealth Connect; the launch of UK-China over-the-counter bond business, which allows international investors to trade and settle RMB bonds more easily through the UK; and a commitment for the issuance of Sovereign and Corporate green bonds in the UK solidifying the City’s role as a Global Financial Centre and benefitting UK firms through increased fees for delivering this business.

With reference to her Department's policy paper entitled 2025 UK-China Economic and Financial Dialogue: fact sheet, published on 11 January 2025, what steps the Government plans to take to help implement new (a) commercial licences and (b) quota allocations for UK firms in China.

As the Chancellor’s Statement to the House on 14th January set out, the dialogue has delivered a set of tangible benefits to ensure that British firms have greater access to the world’s second largest economy, while safeguarding our national security and securing commitments to enhance financial regulatory and supervisory cooperation. The total value of what was agreed is worth £600 million over the next five years for the UK economy and sets us on course to deliver up to £1 billion of value for the UK economy. In particular, the agreement secured: new licences and quota allocations for UK asset managers, which will immediately improve their operating access and competitiveness in China; the launch a feasibility study into a UK-China Wealth Connect; the launch of UK-China over-the-counter bond business, which allows international investors to trade and settle RMB bonds more easily through the UK; and a commitment for the issuance of Sovereign and Corporate green bonds in the UK solidifying the City’s role as a Global Financial Centre and benefitting UK firms through increased fees for delivering this business.

Whether she plans to take steps to support greater supervisory data sharing between UK and Chinese financial regulators.

As the Chancellor’s Statement to the House on 14th January set out, the dialogue has delivered a set of tangible benefits to ensure that British firms have greater access to the world’s second largest economy, while safeguarding our national security and securing commitments to enhance financial regulatory and supervisory cooperation. The total value of what was agreed is worth £600 million over the next five years for the UK economy and sets us on course to deliver up to £1 billion of value for the UK economy. In particular, the agreement secured: new licences and quota allocations for UK asset managers, which will immediately improve their operating access and competitiveness in China; the launch a feasibility study into a UK-China Wealth Connect; the launch of UK-China over-the-counter bond business, which allows international investors to trade and settle RMB bonds more easily through the UK; and a commitment for the issuance of Sovereign and Corporate green bonds in the UK solidifying the City’s role as a Global Financial Centre and benefitting UK firms through increased fees for delivering this business.

What information her Department holds on the total market value of (a) cash and (b) stocks and shares ISA holdings in each of the past five tax years, broken down by investor income bracket.

Information on the total value of ISA subscriptions, the total market value of ISAs, and the number of ISA holders and subscribers broken down by income bands is available in HMRC’s Annual Savings Statistics.https://www.gov.uk/government/collections/annual-savings-statistics

What information her Department holds on the total value of investments in (a) cash, (b) stocks and shares, (c) innovative finance and (d) lifetime ISAs in each of the past five tax years, broken down by investors' income bracket.

Information on the total value of ISA subscriptions, the total market value of ISAs, and the number of ISA holders and subscribers broken down by income bands is available in HMRC’s Annual Savings Statistics.https://www.gov.uk/government/collections/annual-savings-statistics

Communities and Local Government, what estimate she has made of the change in (a) core spending power and (b) settlement funding for (i) Aylesbury Vale District Council in each financial year between 2010-11 and 2019-20, (ii) Buckinghamshire County Council in each financial year between 2010-11 and 2019-20 and (iii) Buckinghamshire Council in each financial year since 2020-21.

Detailed information on core spending power and settlement funding for Aylesbury Vale District Council, Buckinghamshire County Council and Buckinghamshire Council for each year from 2015/16 to 2020/21 can be viewed here.Due to changes in the function and financing of local government, comparable data on Core Spending Power is not available prior to 2015/16.

Whether her Department is taking steps to involve private sector firms in developing distributed ledger technology for the digital gilt instrument pilot.

This pilot would allow us to make more informed decisions on Distributed Ledger Technology’s (DLT) potential future application to wider government debt issuance. Demonstrating feasibility on a government bond issuance will also support the private sector by providing a use case that will assist their own use and investment in the technology. The pilot puts the UK at the forefront of capital markets innovation. This experimental issuance is separate from the government’s normal operations and overall debt issuance programme. The pilot will utilise the Digital Securities Sandbox (DSS), which opened for applications in September 2024. The DSS utilises temporary modifications to legislation to provide an environment where firms can use developing technology, in particular DLT, to create, trade, and manage securities, under the supervision of the Bank of England and the Financial Conduct Authority (FCA). This enables activity to happen in a controlled and monitored setting, ensuring that potential risks are managed while fostering innovation. I set out in a Written Ministerial Statement on 18 November 2024, that the government will engage with the financial sector in the new year to explore what the issuance could look like and the technology options available to facilitate it.

What criteria her Department plans to use to assess the effectiveness of the digital gilt instrument pilot.

This pilot would allow us to make more informed decisions on Distributed Ledger Technology’s (DLT) potential future application to wider government debt issuance. Demonstrating feasibility on a government bond issuance will also support the private sector by providing a use case that will assist their own use and investment in the technology. The pilot puts the UK at the forefront of capital markets innovation. This experimental issuance is separate from the government’s normal operations and overall debt issuance programme. The pilot will utilise the Digital Securities Sandbox (DSS), which opened for applications in September 2024. The DSS utilises temporary modifications to legislation to provide an environment where firms can use developing technology, in particular DLT, to create, trade, and manage securities, under the supervision of the Bank of England and the Financial Conduct Authority (FCA). This enables activity to happen in a controlled and monitored setting, ensuring that potential risks are managed while fostering innovation. I set out in a Written Ministerial Statement on 18 November 2024, that the government will engage with the financial sector in the new year to explore what the issuance could look like and the technology options available to facilitate it.

What the role of the (a) Bank of England and (b) Financial Conduct Authority will be in regulatory oversight of the digital gilt instrument pilot.

This pilot would allow us to make more informed decisions on Distributed Ledger Technology’s (DLT) potential future application to wider government debt issuance. Demonstrating feasibility on a government bond issuance will also support the private sector by providing a use case that will assist their own use and investment in the technology. The pilot puts the UK at the forefront of capital markets innovation. This experimental issuance is separate from the government’s normal operations and overall debt issuance programme. The pilot will utilise the Digital Securities Sandbox (DSS), which opened for applications in September 2024. The DSS utilises temporary modifications to legislation to provide an environment where firms can use developing technology, in particular DLT, to create, trade, and manage securities, under the supervision of the Bank of England and the Financial Conduct Authority (FCA). This enables activity to happen in a controlled and monitored setting, ensuring that potential risks are managed while fostering innovation. I set out in a Written Ministerial Statement on 18 November 2024, that the government will engage with the financial sector in the new year to explore what the issuance could look like and the technology options available to facilitate it.

What steps her Department is taking to manage potential risks associated with distributed ledger technology during the pilot digital gilt instrument issuance.

This pilot would allow us to make more informed decisions on Distributed Ledger Technology’s (DLT) potential future application to wider government debt issuance. Demonstrating feasibility on a government bond issuance will also support the private sector by providing a use case that will assist their own use and investment in the technology. The pilot puts the UK at the forefront of capital markets innovation. This experimental issuance is separate from the government’s normal operations and overall debt issuance programme. The pilot will utilise the Digital Securities Sandbox (DSS), which opened for applications in September 2024. The DSS utilises temporary modifications to legislation to provide an environment where firms can use developing technology, in particular DLT, to create, trade, and manage securities, under the supervision of the Bank of England and the Financial Conduct Authority (FCA). This enables activity to happen in a controlled and monitored setting, ensuring that potential risks are managed while fostering innovation. I set out in a Written Ministerial Statement on 18 November 2024, that the government will engage with the financial sector in the new year to explore what the issuance could look like and the technology options available to facilitate it.