To ask the Secretary of State for Business and Trade, what (a) criteria and (b) assessment process was used to determine the award of up to £75 million to BMW made under section 8 of the Industrial Development Act 1982.

The award to BMW met the following criteria;

• The award is associated with a strategically important and significant opportunity related to an internationally mobile investment.
• Significant private sector investment will be leveraged.
• A significant number of jobs will be created and/or safeguarded.
• The award meets Government’s value for money requirements.
• The award is deemed legally compliant in accordance with the UK Subsidy Control Act 2022

The assessment process followed HM Treasury Green Book Appraisal Guidance including detailed due diligence conducted by an independent third party. The assessment process also included scrutiny by the Industrial Development Advisory Board.

The award to BMW supports a total investment of £575m by the company and will secure production of new electric models of the Mini at the plant in Oxford.