Automotive Manufacturing Sector: Support

Lord McLoughlin Excerpts

Monday 15th May 2023 Lords Chamber

[Lord Johnson of Lainston (Con)]

I am grateful to the noble Lord for his continued engagement on this important matter, which I know he holds dear to his heart, as do I. My department will work continually with all parties to ensure that we have the right amount of investment in our future industries. Please make no mistake about it: the creation of an EV industry in this country and the importance of the automotive sector is paramount to our long-term strategy, and to the success and prosperity of this great nation.

[Lord McLoughlin (Con)]

My Lords, in looking at what the Government are doing to support the manufacturing industry, I ask: are they satisfied with the way in which industrialists and entrepreneurs see it at the moment? There was a call by James Dyson at the weekend, saying that there is not sufficient liaison. If he does not feel that the Government are on the side of industry in this country, that is very disturbing. What are the Government doing to put this right?

[Lord Johnson of Lainston (Con)]

I am grateful to my noble friend for that comment but I do not necessarily see those figures in the facts that I look at. Look at the investments into life sciences, into fintech, into start-ups and venture: we lead the world, second only to the United States. On unicorns, which are an important measure of the sort of R&D that Sir James Dyson is talking about, if your Lordships took a hot-air balloon up over this great nation and looked down, you would see herds of unicorns thundering across our green and pleasant land, the sunlight glinting off their horns. But if your balloon drifted over the channel to the continent, you would see single unicorns, their ribs showing, tethered to a stake and munching dry grass. Our brains are our best defence, and the facts speak for themselves.