Oral Answers to Questions

Debate between Blair McDougall and Noah Law

Thursday 15th October 2026 Commons Chamber

[The Parliamentary Under-Secretary of State for Business, Innovation, Science and Trade (Blair McDougall)]

Place is central to the industrial strategy. We have been working with Plymouth and the south-west peninsula to support the development of distinctive nationally significant clusters. I visited Plymouth and Cornwall earlier this year to meet the freeport, understand the opportunities around marine autonomy and see for myself Cornwall’s incredible critical mineral potential.

[Noah Law]

As you know, Madam Deputy Speaker, in Cornwall we have a resurgent minerals industry, which can make our country and our communities wealthy once again, but we can only do that if we process what we dig out of the ground. Having strong supply chains is therefore imperative from a national security and a resilience perspective. What steps is the Minister taking, together with No. 10 North, the Treasury and other Departments, to ensure that the key investment case for our area—including the missing midstream, which is battery active material production—will prevent us from having to ship that wealth abroad and will ensure that we create Cornish jobs back home?

[Blair McDougall]

My hon. Friend and the other Cornish Labour MPs are incredible advocates for critical minerals and their potential in the UK. Projects in that part of the world are essential to our ambitions. We are supporting lithium projects in Cornwall, including through an offer in principle of £9.8 million through DRIVE35 for Geothermal Engineering Ltd, as well as a £31 million equity investment in Cornish lithium through the National Wealth Fund. We will continue to work to ensure that we keep more of that value in the UK.

Oral Answers to Questions

Debate between Blair McDougall and Noah Law

Thursday 30th October 2025 Commons Chamber

[Noah Law]

Cornwall has a huge role to play in making Britain a clean energy superpower. As Ministers will be aware, much thought has already gone into the making of an industrial strategy for Cornwall. The crucial piece now is to unlock the funding needed for industrial and economic development, particularly in the wake of the shared prosperity fund coming to an end. What discussions has the Minister had with colleagues in the Ministry for Housing, Communities and Local Government about the prospect of a set of investment measures to replace shared prosperity funding and ensure the realisation of Cornwall’s unique industrial potential?

[Blair McDougall]

I know from holidaying in my hon. Friend’s constituency that it is a place of incredible beauty, but I know from his constant advocacy that it is also a place of huge industrial potential. Cornwall will benefit from access to the £200 million investment fund, which provides debt and equity finance of up to £5 million for businesses in the south-west. That has already delivered £51.8 million of direct investment, leveraging an additional £48.1 million. I know he has big plans for industry in Cornwall, and we will work with him, especially on access to finance, to ensure that we can unlock that potential. We will of course work with our colleagues in MHCLG.