Autumn Statement

Greg Clark Excerpts

Thursday 17th November 2022 Commons Chamber

[Jeremy Hunt]

First, on the opportunity to be the world’s next silicon valley, I want Northern Ireland to be a central part of that. In fact, we have agreed to explore funding a trade and investment event in Northern Ireland, to attract more inward investment into the Province for that very reason. I am aware that when it comes to fuel poverty issues, it is a different situation in Northern Ireland. I have had a number of discussions with my officials, and I am aware that energy consumption patterns are slightly different. I will write to the hon. Gentleman with details on that, and I am happy to engage with him separately.

[Greg Clark (Tunbridge Wells) (Con)]

I congratulate the Chancellor on his meticulous and positive statement, which will be very well received in the science and technology communities. When we invest in research and development, we lay down a path to high-paid jobs, discoveries that change people’s lives and export earnings. The commitment that he has made is the biggest increase in R&D funding in the history of this country. Will he work with the Business Secretary to develop a strategy through which businesses can invest alongside the commitment he has made today, so that we can get the most out of that commitment?

[Jeremy Hunt]

There has been no stronger backer of science and research and development than my right hon. Friend, and I will absolutely make that commitment. There are a lot of elements in the industrial strategy he put together that we can learn from and weave into what we do next. He is right: this cannot happen with Government money alone. We need to work in partnership with brilliant British innovators and make the most of the incredible opportunity we have.