Oral Answers to Questions

Noah Law Excerpts

Thursday 30th October 2025 Commons Chamber

[Henry Tufnell (Mid and South Pembrokeshire) (Lab)]

4. What recent progress he has made on implementing the industrial strategy.

[Noah Law (St Austell and Newquay) (Lab)]

9. What recent progress he has made on implementing the industrial strategy.

[Euan Stainbank (Falkirk) (Lab)]

14. What recent progress he has made on implementing the industrial strategy.

--- Later in debate ---

[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.