Heat and Building Strategy
Debate between Baroness Bloomfield of Hinton Waldrist and Lord Thurlow
Lord Thurlow (CB) [V]
The numerous commitments to significant government support to the hydrogen development sector in particular give us as a nation, free from pan-European competition regulations, a real chance to direct government investment into British technology and the development of British IP. What effort will be made to direct this investment into UK businesses rather than UK-based subsidiaries that feed the profits of foreign companies?
Baroness Bloomfield of Hinton Waldrist (Con)
I think that the noble Lord is referring back to the mistakes that we made in the development of the offshore wind market. We are determined not to make the same mistakes. The profit from the technology that we develop in floating offshore wind and other green technologies, including the significant investment that we are making into hydrogen energy development, will provide, I hope, some reassurance.