Written questions by Anderson.

What assessment her Department has made of the potential impact of the proposed rail reforms on commuter services from Bletchley.

The Railways Bill will enable the biggest overhaul of the rail sector in a generation. It will create stronger leadership by establishing Great British Railways as a new ‘directing mind’ for the industry, unifying track and train under a single public body to deliver better services for passengers and customers, and better value for money for taxpayers. The Government launched an eight-week consultation on 18 February seeking views on the key legislative proposals that will form part of the upcoming Railways Bill. Services from Bletchley will benefit from the changes set out above, alongside the rest of the network.

Communities and Local Government, what assessment she has made of trends in Local Government Pension Scheme asset allocation to UK equities in the last ten years.

The Local Government Pension Scheme (LGPS) invests approximately 9% of its total assets of c. £392 billion in UK equities (or 17% of its total equity holdings) compared to over 20% a decade ago. The government’s landmark pensions review aims to unlock investment in the UK economy.

What assessment her Department has made of the impact of (a) Venture Capital Trusts, (b) the Enterprise Investment Scheme, (c) the Seed Enterprise Investment Scheme and (d) the Social Investment Tax Relief on economic growth in the last five fiscal years.

Growth is the central mission of the Government, and investment is a vital part of addressing the growth challenge. The venture capital schemes are a key part of this. The venture capital schemes were evaluated in 2022, and these evaluations were published on gov.uk. [1] The evaluations found that the schemes were well targeted to address the market failure which makes it difficult for early-stage, high-risk companies to secure the investment they need. SITR expired in April 2023. [1] Evaluation of Venture Capital Schemes - GOV.UK

What criteria her Department uses to establish the annual number of Seasonal Worker visas.

The Home Office works closely with the Department of Environment, Food and Rural Affairs to set the annual quotas for the Seasonal Worker route. This process takes into consideration a range of data and information including previous years’ usages, work force plans and industry intelligence because the Government keeps the annual quota numbers under review, we are unable to provide an estimated projection of what the visa numbers will be over the next five years.

What proportion of Enterprise Investment Scheme funding was provided to companies based in Milton Keynes and Buckinghamshire in each of the last five financial years.

HMRC publish national statistics for the Enterprise Investment Scheme (EIS) every year. HMRC’s most recent published statistics are for the 2022 to 2023 tax year. HMRC publish statistics outlining regional investment, but this is not broken down further. Information about EIS funding in the South East can be found in these statistics publications. [1] [ 1 ] Enterprise Investment Scheme, Seed Enterprise Investment Scheme and Social Investment Tax Relief: May 2024 - GOV.UK

What assessment her Department has made of the potential contribution of the Mansion House compact on levels of pension investment.

The Mansion House Compact is a voluntary industry-led initiative with eleven signatories to secure better outcomes for defined contribution (DC) savers by increasing pension investment into unlisted equity. The ambition is to allocate at least 5% of the DC default funds to unlisted equities by 2030 and increase the proportion of UK pension and other relevant investments in unlisted equities. The Government continues to monitor progress on the Mansion House commitments in collaboration with the Association of British Insurers (ABI). An update from the ABI suggests that signatory pension firms are making progress on these ambitions. The ABI’s latest publication highlights that firms have laid strong foundations to implement the commitment of allocating 5% of DC default funds to unlisted equities by 2030. Ten of the eleven signatories to the compact have taken steps to establish or expand their expertise in unlisted equity investment. Furthermore, eight of the eleven signatories have begun to develop specific solutions to enable increased unlisted equity investment. The Government is also taking further proactive steps to increase investment in innovative businesses. In November, the British Business Bank completed its £250m Long Term Investment for Technology and Science (LIFTS) investment alongside £250m from Phoenix Group with Schroders Capital. The £500m investment vehicle will invest in UK late-stage companies focused on technology and science, with 20% of the fund expected to be invested in life sciences. Additionally, two UK pension funds, Aegon UK and NatWest Cushon, have agreed to collaborate with the British Business Bank on launching the British Growth Partnership to crowd-in institutional investment into venture capital funds and innovative businesses here in the UK.

Communities and Local Government, what information her Department holds on what the value of business rates written off by Buckinghamshire Council was in each of the last three financial years.

Data on the amount of business rates that local authorities have written off are published as part of the annual ‘Collection of council tax and business rates’ statistical release, published here: https://www.gov.uk/government/collections/council-tax-statistics#collection-rates-for-council-tax-and-non-domestic-rates.Local authorities are asked to report the amount written off in the financial year across three lines – in relation to bills for the year itself, in relation to the previous year only and in relation to earlier financial years. All local authority level data are published in Table 9.

How many companies that received funding through the Enterprise Investment Scheme in the each of the last five financial years were in their first year of trading.

The Enterprise Investment Scheme (EIS) offers tax reliefs for investors investing into companies below a certain age. This ensures it is targeted towards the most early-stage, high-risk companies, who face the greatest struggle securing the investment they need to grow and develop. The initial investment into a company must occur within 7 years of the company’s first commercial sale, or within 10 years for knowledge intensive companies (KICs). HMRC does not publish statistics on the age or length of trading time for companies receiving investment through the Enterprise Investment Scheme (EIS).

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.

If she will make an estimate of the projected annual quota for the Seasonal Worker Visa Scheme over the next five years.

The Home Office works closely with the Department of Environment, Food and Rural Affairs to set the annual quotas for the Seasonal Worker route. This process takes into consideration a range of data and information including previous years’ usages, work force plans and industry intelligence because the Government keeps the annual quota numbers under review, we are unable to provide an estimated projection of what the visa numbers will be over the next five years.

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.

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.

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.

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.

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 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.

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.

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.

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.