Shipping: Investment

Treasury written question – answered on 16th September 2020.

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Photo of Kevan Jones Kevan Jones Labour, North Durham

To ask the Chancellor of the Exchequer, what fiscal steps he is taking to support private investment in the UK maritime industry.

Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary

The maritime sector plays a key role in the UK economy, responsible for up to 95% of our imports and exports. As much of the UK maritime sector is privately owned, our world-leading companies are well placed to seek investment opportunities through commercial means.

The government works closely with all parts of the UK maritime sector to identify the support they need to support their success and growth. In particular, the Department for International Trade works closely with the industry to promote the UK as an inward investment destination for the global maritime community.

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