Business

Department for Business, Energy and Industrial Strategy written question – answered on 12th February 2019.

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Photo of Lord Taylor of Warwick Lord Taylor of Warwick Non-affiliated

To ask Her Majesty's Government what assessment they have made of reported concerns in the financial sector that uncertainty around Brexit will cause a deterioration in the long-term UK business environment; and whether they will increase their efforts to reassure UK businesses about the impact of Brexit.

Photo of Lord Henley Lord Henley Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Government continues to actively engage with businesses across all sectors of the economy, including the financial sector.

We are committed to ensuring that the UK remains a great place to do business. Our ambitious Industrial Strategy is comprised of a range of policies designed to build an economy fit for the future, fostering a competitive environment where businesses have the confidence to invest and thrive. This includes building long term strategic partnerships with businesses through Sector Deals, committing £37bn through the National Productivity Investment Fund by 2023/24, and supporting finance to over 78,000 SMEs through the British Business Bank.

The Government is ensuring the latest advice and information on all aspects of leaving the EU reaches businesses. The guidance "Prepare your business for EU Exit" published on GOV.UK takes businesses through a series of 7 questions to help identify the most relevant information for them based on business sector and the types of activity they undertake with the EU.

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