Industry and Exports Act 2026 Amends Financial Assistance Limits

UK New Legislation

Published March 18th, 2026

Detected March 20th, 2026

Summary

The UK Parliament has enacted the Industry and Exports (Financial Assistance) Act 2026, significantly increasing financial assistance limits for industry and exports. The Act amends the Industrial Development Act 1982 and the Export and Investment Guarantees Act 1991, raising monetary caps and altering reporting requirements.

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What changed

The Industry and Exports (Financial Assistance) Act 2026, enacted on March 18, 2026, amends key legislation to increase financial assistance limits. Specifically, it raises the limit under section 8(5) of the Industrial Development Act 1982 from £12,000 million to £20 billion and from £1,000 million to £1.5 billion. It also revises limits under section 6 of the Export and Investment Guarantees Act 1991, increasing commitment limits to £160 billion and specific order limits to £15 billion, while also making changes to reporting requirements related to special drawing rights and sterling equivalents.

This legislation has immediate implications for entities involved in industrial development and export finance. The increased financial capacities may lead to new or expanded government support programs. Compliance officers should review the updated limits and any associated procedural changes to ensure adherence to the revised financial assistance frameworks. The Act comes into force two months after its passing, meaning entities should be prepared for compliance by approximately May 18, 2026.

What to do next

Review updated financial assistance limits under the Industrial Development Act 1982 and Export and Investment Guarantees Act 1991.
Update internal financial planning and reporting procedures to reflect new monetary caps.
Ensure compliance with revised reporting requirements for overseas investment and export guarantees.

Source document (simplified)

Status:

This is the original version (as it was originally enacted). This item of legislation is currently only available in its original format.

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.

[18th March 2026]

B e 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

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

(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”;

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

(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.

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Named provisions

Limit on selective financial assistance for industry Financial assistance for exports and overseas investment: commitment limits Extent, commencement and short title