Written questions by McMurdock.

With reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, whether his Department assessed Kraken Technologies’ financial position and capital-raising capacity prior to approving funding.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

With reference to the Department for Business and Trade’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, whether he made an assessment of the adequacy of the availability of private‑sector investment for Kraken Technologies before providing funding.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

With reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, whether he has taken steps to ensure that public investment in Kraken Technologies cannot be used to facilitate dividend payments by Octopus Energy.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

With reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, what valuation of Kraken Technologies was used when determining the investment.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

With reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, what assessment he has made of the potential impact of investment in Kraken Technologies on competition within the UK energy software market.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

With reference to his Department’s press release entitled Business Secretary backs British scaleups with growth package and red tape review, published on 20 January 2026, whether Octopus Energy’s compliance with capital requirements was considered when approving investment in Kraken Technologies.

The Department for Business and Trade sets the overall strategic direction for the British Business Bank, which is operationally independent and carries out its own due diligence. The Department was informed by the Bank of its investment in Kraken Technologies on 7 January 2026, after the investment decision had been taken and the terms agreed.The Department does not seek to assess the merits of individual investments within the Bank's portfolio. This includes company valuation, the position of other investors, or the other matters raised some of which are the responsibility of other public bodies.

Pursuant to the press release entitled ‘Business Secretary backs British scaleups with growth package and red tape review’ published on 20 January 2026, what financial return his Department expects from the £50 million investment into Epidarex Capital and IQ Capital.

These investments were made by the British Business Bank. The Bank’s investments in aggregate are expected to generate a financial return that exceeds the Government’s cost of borrowing. In the year ended March 2025, the Bank reported a profit of £144 million and a five-year average adjusted return on capital employed of 4.2%, against a target of 0.9%. There is no target or expectation for returns from individual investments, which can vary widely. For its commercial equity products, the Bank’s performance will be benchmarked against the median fund performance in the Venture Capital market.

Pursuant to the press release entitled ‘Business Secretary backs British scaleups with growth package and red tape review’ published on 20 January 2026, whether his Department's £25 million investment into Kraken Technologies is expected to make a financial return.

These investments were made by the British Business Bank. The Bank’s investments in aggregate are expected to generate a financial return that exceeds the Government’s cost of borrowing. In the year ended March 2025, the Bank reported a profit of £144 million and a five-year average adjusted return on capital employed of 4.2%, against a target of 0.9%. There is no target or expectation for returns from individual investments, which can vary widely. For its commercial equity products, the Bank’s performance will be benchmarked against the median fund performance in the Venture Capital market.

If he will publish a report on the potential impact of recently announced tariffs by the Unites States on the UK economy.

Having retained our cool-headed approach and robustly defended the rights of the people of Greenland and the kingdom of Denmark alone to determine their future, we are glad that the President has announced that these tariffs will not be proceeding.

Pursuant to the press release of 26 December 2025 on defence exports, how many export licences for defence equipment were approved in 2025; and how many applications were (a) refused and (b) withdrawn.

In 2025 Q1 (between 1 January and 31 March 2025), 2,732 Standard Individual Export Licences (SIELs) were issued, and 140 were refused. 260 were withdrawn. In 2025 Q2 (between 1 April and 30 June 2025), 2,612 SIELs were issued, and 104 were refused.221 were withdrawn. These numbers reflect military and non-military licences, as both licences could include goods that may be considered defence equipment. Our quarterly licensing statistics provide descriptions of the goods covered for licences issued.Information on export licensing decisions from 1 July 2025 onwards has not yet been published as official statistics. Information relating to export licensing decisions covering the period 1 July 2025 to 30 September 2025 (2025 Q3) is planned to be published on 29 January 2026: Strategic export controls: licensing statistics: 1 July to 30 September 2025 - Official statistics announcement - GOV.UK.

What estimate their Department has made of the number of collective action proceedings that have been delayed or discontinued as a result of the judgment in R (on the application of PACCAR Inc and others) v Competition Appeal Tribunal and others [2023] UKSC 28 as of 26 July 2023.

The Department has not made such an estimate. Decisions to delay or discontinue collective action proceedings may be based on several factors, specific to each case.The Minister of State for Justice set out, in her written statement to the House on 17 December 2025, that the Government intends to take action to mitigate the impact of the 2023 Supreme Court judgment in PACCAR and implement proportionate regulation of third-party litigation funding agreements.

If he will bring forward legislative proposals to require hiring organisations reply to job role applicants with a final verdict on their application.

There are currently no legislative plans to bring forward a requirement for hiring organisations to reply to applicants with an outcome on their application.

If he will take steps to help tackle online job advertisements where the company has no intent to hire.

Job boards and employment businesses are already prohibited from advertising jobs that do not exist or lack proper authorisation to advertise, with state enforcement by the Employment Agency Standards Inspectorate.Additional safeguards come from consumer protection and ASA codes, which address misleading or unfair adverts.Individuals misled by fake job postings may also have civil remedies, depending on the circumstances.

What assessment he has made of the adequacy of protections for whistle blowers reporting concerns on foreign bribery.

Individuals can report foreign bribery through a range of channels, such as the Serious Fraud Office or National Crime Agency, and workers will be protected from retaliation as a whistleblower under the Employment Rights Act 1996 (ERA) if certain conditions are met.The government recognises that the whistleblowing framework in the ERA may not be operating as effectively as it should and recently committed to explore opportunities for reform in the UK Anti-Corruption Strategy 2025.The government will continue to review its approach to whistleblowing and foreign bribery in line with the recommendations of the OECD Working Group on Bribery.

What measures will be used to assess the effectiveness of the Fair Work Agency in improving compliance with employment law.

The Fair Work Agency (FWA) will build on the data currently collated and published by existing labour market enforcement bodies.The Secretary of State is required to publish annual reports that assess the extent to which enforcement functions have been carried out in line with the three-year enforcement strategies. These will assess levels of non-compliance and set out how the FWA will measure its performance. Both the annual reports and enforcement strategies will be laid before Parliament and the Northern Ireland Assembly and will be subject to parliamentary scrutiny in the usual way.

What data the Fair Work Agency will collect and publish on breaches of employment law involving temporary and seasonal workers.

The Fair Work Agency (FWA) will build on the data currently collated and published by existing labour market enforcement bodies.The Secretary of State is required to publish annual reports that assess the extent to which enforcement functions have been carried out in line with the three-year enforcement strategies. These will assess levels of non-compliance and set out how the FWA will measure its performance. Both the annual reports and enforcement strategies will be laid before Parliament and the Northern Ireland Assembly and will be subject to parliamentary scrutiny in the usual way.

What discussions he has had with Ofcom on the comparative (a) employment practices and (b) delivery of delivery companies excluding Royal Mail; and what plans he has to ensure similar standards to those applied to Royal Mail to improve delivery outcomes.

Ministers and officials meet with Ofcom regularly to discuss a range of issues in relation to its role as the independent regulator for the postal sector. Delivery companies are independent businesses, and the government has no role in their operational decisions. Ofcom does not regulate the employment models of delivery companies. The Government will consult on the topic of employment status generally, as soon as possible in the New Year. Delivery targets covering all postal operators would be a decision for Ofcom to consider as part of its reviews of postal regulation.

Whether he has had discussions with Ofcom on the application of online advertising regulations for illegal gas work promotions.

The Secretary of State has had no discussions with Ofcom on this matter. The Gas Safety (Installation and Use) Regulations 1998 make it a criminal offence for anyone who is not on the Gas Safe Register to carry out gas work in domestic properties. The Advertising Standards Authority requires all advertising to be legal and socially responsible. It is working with online platforms which have signed up to its Intermediary and Platform Principles to encourage compliance with the advertising codes online. The Online Advertising Taskforce, chaired by the Minister for Creative Industries, Media and Arts, is also working to improve transparency and accountability in the online advertising supply chain.

What recent assessment his Department has made of (a) adequacy of the (i) performance and (ii) outcomes of Royal Mail’s Optimised Delivery Model trials and (b) whether these trials demonstrate that the model can meet the requirements of the Universal Service Obligation.

Operational implementation of the reforms to the Universal Service Obligation are a matter for Royal Mail’s management working with its workers and unions. The government does not have a role in the operational decisions of the business. Ofcom is responsible for monitoring Royal Mail’s delivery of its universal service obligations and has committed to monitoring the implementation process closely, to identify any issues with the roll-out of changes, whether the cost savings have been realised, and any impacts on the consumer experience.

What steps his Department is taking to ensure that Royal Mail meets its statutory service standards and provides accurate reporting on delivery performance.

Ministers and officials have discussions with Royal Mail on a regular basis in its capacity as the universal service provider.Ofcom has a primary duty to secure the provision of a universal postal service, having regard to its financial sustainability and efficiency. On 10 July this year, Ofcom announced changes to the universal postal service obligation intended to have a significant positive impact on the financial sustainability of the universal service and support its continued provision. It is for Ofcom, as the independent regulator of postal services, to monitor Royal Mail’s service standards with powers to take enforcement action where failures are identified without sufficient justification. Ofcom requires Royal Mail to publish its quality of service performance data on a quarterly basis.