Industry and Exports (Financial Assistance) Act 2026

2026 Chapter 14

An Act to amend section 8(5) of the Industrial Development Act 1982 and section 6 of the Export and Investment Guarantees Act 1991.

Enacted [18th March 2026]

Be it enacted by the King’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

1 Limit on selective financial assistance for industry¶

Amends Industrial Development Act 1982 · 2 changes

8 Selective financial assistance: general powers

subsections (1) – (4) unchanged

5 The limit shall be ~~£12,000 million~~£20 billion, but the Secretary of State may, on not more than four occasions, by order made with the consent of the Treasury increase or further increase that limit by a sum specified in the order, being a sum not exceeding ~~£1,000 million~~£1.5 billion.

In section 8 of the Industrial Development Act 1982 (selective financial assistance: general powers), in subsection (5)—

a for “£12,000 million” substitute “£20 billion”;

b for “£1,000 million” substitute “£1.5 billion”.

2 Financial assistance for exports and overseas investment: commitment limits¶

Amends Export and Investment Guarantees Act 1991 · 4 changes

6 Commitment limits

1 The aggregate amount of the Secretary of State’s commitments at any time under arrangements relating to exports and insurance shall not exceed ~~82,700 million special drawing rights~~£160 billion.

subsections (2) – (3) unchanged

4 The Secretary of State may by order increase or further increase—

a the limit in subsection (1) above by a ~~sum specified in the order not exceeding 5,000 million special drawing rights~~sum not exceeding £15 billion,

paragraph (b) unchanged

4A The Secretary of State must not in respect of ~~either limit mentioned in subsection (4)~~the limit in subsection (3) exercise the power to make an order on more than three occasions.

5 For the purposes of this section and section 7 of this Act—

paragraphs (a) – (d) unchanged

e the equivalent in sterling or special drawing rights of the amount of any commitments shall be ascertained at intervals determined from time to time by the Secretary of State with the consent of the Treasury and in accordance with principles so determined.

subsections (6) – (7) unchanged

1 In section 6 of the Export and Investment Guarantees Act 1991 (financial assistance for exports and overseas investment: commitment limits)—

a in subsection (1), for “82,700 million special drawing rights” substitute “£160 billion”;

b in subsection (4)(a), for “sum specified in the order not exceeding 5,000 million special drawing rights” substitute “sum not exceeding £15 billion”;

c in subsection (4A), for “either limit mentioned in subsection (4)” substitute “the limit in subsection (3)”;

d in subsection (5)(e), after “the equivalent in” insert “sterling or”.

Amends Small Business, Enterprise and Employment Act 2015 · 1 deletion

12 EIGA 1991: further amendments

subsection (1) unchanged

2 In subsection (1) of section 6 (limit on the Secretary of State’s commitments under the Act) for paragraphs (a) and (b) substitute “67,700 million special drawing rights”.

subsections (3) – (7) unchanged

2 In section 12 of the Small Business, Enterprise and Employment Act 2015 (amendments to the Export and Investment Guarantees Act 1991), omit subsection (2).

3 Extent, commencement and short title¶

1 This Act extends to England and Wales, Scotland and Northern Ireland.

2 This Act comes into force at the end of the period of two months beginning with the day on which it is passed.

3 This Act may be cited as the Industry and Exports (Financial Assistance) Act 2026.