Maritime Industry

Lord Mountevans Excerpts

Thursday 17th September 2020 Lords Chamber

Asked by

[Lord Mountevans]

To ask Her Majesty’s Government what proportion, if any, of the increased research and innovation funding, announced in the Budget on 11 March, is allocated to the maritime industry to assist that sector to meet its net zero emissions obligations.

[Lord Mountevans (CB) [V]]

My Lords, in begging leave to ask the Question standing in my name on the Order Paper, I declare my maritime interests, as listed in the register.

[The Parliamentary Under-Secretary of State, Department for Business, Energy and Industrial Strategy (Lord Callanan) (Con)]

The Chancellor has made it clear that one of his priorities is to make the UK a science superpower, including leading on the development of technologies that will support the Government’s ambition to reach net-zero carbon emissions by 2050. In the autumn, the comprehensive spending review will set out details of this historic investment, giving researchers and innovators confidence and ensuring that we can meet the objectives we have set out in the R&D roadmap.

[Lord Mountevans (CB) [V]]

I thank the Minister for his reply. The maritime industry has worked tirelessly during the Covid emergency to keep vital supply lines open, but this has come at a cost and businesses’ cash reserves are now heavily depleted. The industry has submitted a bid for £1 billion of government investment under the comprehensive spending review to kick-start decarbonisation. This would create nearly 75,000 jobs in the maritime industry, across every nation of the UK and especially in our coastal communities. It would help to position Britain as a world leader in maritime decarbonisation, which will be an enormous area of business. Does the Minister recognise the potential of this investment and would he be willing to meet me and industry representatives to explore these possibilities and opportunities?