Commons Sense

Hansard-based summaries and metrics

Science and Technology Sector Inward Investment 2024-01-25

2024-01-25

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Response quality

Questions & Answers

Q1 Partial Answer
George Freeman Con
Mid Norfolk
▸ Context
The question arises from the need to increase inward investment in UK's science and technology sector, highlighting its importance for economic growth.
What steps is she taking with the Secretary of State for Science, Innovation and Technology to help increase inward investment into the science and technology sector?
Nusrat Ghani
The Department for Business and Trade is under her stewardship, and the UK has the No. 1 tech ecosystem in Europe, raising more venture capital than France and Germany combined. The Office for Investment reaches out to companies around the world, bringing in over £5 billion of investment as announced at the global investment summit.
▸ Assessment & feedback
The specific steps being taken with the Secretary of State were not detailed
Stated General Achievements Without Detailing Steps
Response accuracy
Q2 Partial Answer
George Freeman Con
Mid Norfolk
▸ Context
Following initial recognition of the UK's success, there is a need to understand plans for continued attraction of large-scale investments.
What plans does the Department have to make it easier for global investors to deploy money at scale in UK clusters?
Nusrat Ghani
The Office for Investment offers a concierge service, and £4.5 billion was secured through the advanced manufacturing plan. The research and development budget is around £39.8 billion between 2022-25.
▸ Assessment & feedback
No specific plans mentioned to make it easier for global investors to deploy money at scale in UK clusters
Stated General Achievements Without Detailing Plans
Response accuracy
Q3 Partial Answer
Barry Sheerman
▸ Context
Concerns about the need for attention to hydrogen sector opportunities in science and innovation before competitors dominate.
Will the Secretary of State and her team pay much more attention to the science and innovation possibilities in the hydrogen sector?
Nusrat Ghani
The UK's hydrogen strategy ensures capturing investment, de-risking testing, and commercialising intellectual property here in the UK. Hydrogen is seen in the mix in our future energy spectrum.
▸ Assessment & feedback
No specific attention or plans for hydrogen sector mentioned beyond general statements
Stated A Strategy Without Detailing Specific Actions
Response accuracy