During Business, Energy and Industrial Strategy Questions, James Sunderland asks what the Department is doing to support the Department for International Trade to incentivise foreign investment in UK manufacturing.
What steps his Department is taking to support UK manufacturing. (900526)
The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Amanda Solloway)
Having worked in manufacturing for over 20 years, I know the challenges, and I thank those in the manufacturing sector for the brilliant work they have done to support the economy, including the way they came together for the ventilator challenge, and for manufacturing all our vaccines. We are committed to supporting UK manufacturers to build back better by taking advantage of innovative technology and through measures such as the super deduction capital allowance rate of 130%, to turbocharge business investment.
Following Brexit, it is more important than ever that we incentivise the best possible commercial, manufacturing and industrial base in the UK. What is BEIS doing to support the Department for International Trade and other Departments in bringing foreign businesses to our shores?
BEIS is working with Departments across Government to implement the plan for growth, with its focus on infrastructure, innovation and skills.
That will have the effect of making the UK more attractive in terms of inward investment, cementing our place as a global science superpower and potentially increasing investment in areas such as Thames valley, which already boasts a number of world-class manufacturing companies.