Financial Assistance to Industry
Motion made, and Question put forthwith (Standing Order No. 118(6)),
That this House authorises the Secretary of State to undertake, during the period beginning with the date of approval of this motion and ending on 31 July 2030, to pay, by way of financial assistance under section 8 of the Industrial Development Act 1982, grants to businesses as part of His Majesty’s Government’s project to support zero-emission vehicle manufacturing in the UK and the UK’s automotive supply chain, including to support the creation of jobs, private investment into the UK, the development of the automotive industry and emission reductions, up to an overall limit of £1 billion, and to pay during or after that period the grants that are undertaken to be paid.—(Taiwo Owatemi.)