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Although sector teams within the Department for Business, Energy & Industry Strategy and the Department...
Conclusion
Although sector teams within the Department for Business, Energy & Industry Strategy and the Department for International Trade work together, officials at both departments consider there is scope for a better joint understanding of how to exploit emerging opportunities in overseas markets.21 The Department noted that there is a high correlation between innovating, high productivity and exporting, and that it does work with UK Research and Innovation (UKRI). However, the Federation of Small Businesses (FSB) considers that there needs to be better links between innovation funding and export finance.22 The Department acknowledged that not everybody in UKRI is fully aware of what support a company needs to export and that its own staff may not consider what innovation funding is available when working with businesses.23 Lack of robust metrics
Government Response
Not Addressed
Government Response
Not Addressed
HM Government
Not Addressed
2.2 The department and UKEF work closely with Department for Business, Energy and Industrial Strategy (BEIS) and across government to ensure domestic policies support export and investment ambitions across key growth sectors, such as strengthening of the UK renewable energy export pipeline. 2.3 To develop an integrated approach, in conjunction with BEIS, the department has developed a framework that takes a strategic view across the pathway from innovation and investment, through commercialisation and deployment, to export. The department is now working with BEIS to apply this framework to critical net zero technologies such as hydrogen, floating offshore wind and Carbon Capture and Storage (CCS). The approach will build on the work of the Energy Innovation Needs Assessments (EINAs) to integrate export potential into domestic policy making at the earliest stage for clean growth sectors, particularly those aligning to the Ten Point Plan announced by the Prime Minister on 18 November 2020, such as the forthcoming hydrogen strategy. 2.4 At this stage there are no plans to partner on UK Research and Innovation’s studies. However, the department and UKEF will continue to look for opportunities. 2.5 The department is committed to boosting sectors of key importance through its ambitious and comprehensive Free Trade Agreements with key partners including Australia, New Zealand and the USA. DIT is seeking to future proof the agreements in line with the government’s ambition on climate and in anticipation of rapid technological developments, such as artificial intelligence. All departmental trade policy objectives are being developed through close ongoing engagement with colleagues at BEIS.
Source
Committee
Public Accounts Committee
Report
Twenty-First Report - Government support for UK exporters
28 Oct 2020
HC 679
Addressee Bodies
HM Treasury
Timeline
Recommendation age
5.6 yrs
Report published
28 Oct 2020