Foreign Direct Investment

Debate between Lord Roberts of Llandudno and Lord Stockwood

Tuesday 10th March 2026 Lords Chamber

[Lord Stockwood (Lab)]

It is undeniable that there is a challenge in trying to get the balance between the energy sovereignty that I previously mentioned and the need to make us attractive in the short term. This Government are taking practical steps to reduce barriers, including targeted regulatory simplification, faster grid connections, planning reforms and action on energy costs. The energy-intensive industries exemption scheme provides 85% relief on electricity policy costs for eligible energy-intensive industries. The British industrial competitiveness scheme makes eligible firms exempt from green energy levies, and 7,000 companies come under that scheme. Trying to balance our need for sovereignty and attractiveness for investment is something to which we give careful consideration day by day.

[Lord Roberts of Llandudno (LD)]

My Lords, how confident are we in our relationship with the United States when we have a President who seems to change his mind from day to day?

[Lord Stockwood (Lab)]

It is clear that we are trying to retain long-term stability and our own attractiveness as a place for investment. The US is clearly a key partner; it has been historically and it will be in the future. We are trying to make sure that our global reputation does not focus on one relationship. I am certain that the trade deal that we are negotiating should bear fruit over the coming months.