Science, innovation and technology Committee

Gordon McKee Excerpts

Thursday 9th July 2026 Commons Chamber

[Dame Chi Onwurah]

It is one of the thrusts of the report that we need greater clarity on sovereignty. This is not an academic debate—we do not need philosophical discussions on what sovereignty may or may not mean—but as the shadow Minister indicated, on tech stacks, particular technologies and their supply chains, we need to understand what we are trying to achieve, so that business, academia and Government, and particularly Government procurement, can move in that direction.

It is interesting, because it was almost implicit that we did not want to say where we were looking for sovereignty, or where we did not have it, as that might alert our competitors to weaknesses. I think China and Russia probably know our weaknesses quite well, and it is our tech start-ups and our great businesses and scale-ups that need to better understand our intended strengths, so that they can support them.

[Gordon McKee (Glasgow South) (Lab)]

I welcome this very interesting and timely report, and I particularly welcome the recognition that one of the barriers to developing or strengthening our sovereignty is the lack of access to deep capital markets at the later stages of start-ups’ development. Will the Chair tell the House a little bit more about what the Committee found on that, and how she thinks the Government can help make sure that companies that want to rapidly grow in the UK can get resource in the UK, rather than in the United States?

[Dame Chi Onwurah]

My hon. Friend highlights an important point in the report on investment and access to it, particularly for sovereign capabilities. That may be for what we call deep tech, which is tech that requires a long-term investment and that will not yield a return tomorrow, or even next year. We recommend supporting the setting up of funds that are dedicated to that, because it takes particular skills and particular access to investment vehicles to support that kind of long-term funding.