International Investment

Debate between Lord Prior of Brampton and Lord Spicer

Tuesday 17th October 2017 Lords Chamber

[Lord Prior of Brampton]

My noble friend makes two important points. On Boeing, I cannot swear to it, but I think the Prime Minister has spoken to Boeing directly about this issue. Certainly, my right honourable friend Greg Clark, in the other place, is also in touch with Boeing. Boeing has two big investments in this country, which relate to helicopters and to a new facility it has opened in Sheffield, so it is an important part of our economy. I assure my noble friend that we are having conversations of the kind that he describes with Boeing. I understand my noble friend’s point that this consultation might lead to some companies pre-empting this and coming forward to buy a British company now rather than later. We have considerable soft power in these areas, so we can use quite a lot of influence behind the scenes to prevent that happening. But we certainly need to bear that consideration in mind.

[Lord Spicer (Con)]

My Lords, if this is genuinely about defence, that is one thing, but if it is going to be part of some sort of more protectionist policy, that will not sit well with Brexit. I am not sure what the word “holistic” means in this context but I am suspicious of it. Actually, we should particularly encourage large-scale projects that people get worried about because, once you are into a large-scale project, you cannot get out of it.

[Lord Prior of Brampton]

My Lords, my noble friend is absolutely right that foreign direct investment into this country is essential. For example, Hinkley Point power station is funded largely by the French and the Chinese. We are absolutely open to investment from all over the world, so there is no intention at all of discouraging foreign direct investment coming into this country—on the contrary. I think that we are the third biggest end point for foreign direct investment after the Chinese and the Americans, and there is no intention of harming that. As far as the word “holistic” is concerned, I think that the noble Lord meant “joined-up government”; it was not in any way directed at some conspiracy to prevent investment coming into this country.

Energy: Storage

Debate between Lord Prior of Brampton and Lord Spicer

Wednesday 1st February 2017 Lords Chamber

[Lord Prior of Brampton]

In paragraph 32 on page 34 of the call for evidence there is a suggested definition of storage. That is very much part of the consultation, and we will have a very firm view on that definition. Clearly removing the double charging where people who are operating storage also have to pay the end consumption levies is something for which we will have clear plans when we publish our response to the call for evidence.

[Lord Spicer (Con)]

My Lords, with the exception of pump storage, is it not the case that genuinely commercial storage systems for electricity do not exist, even to compensate for unreliable renewable energy?

[Lord Prior of Brampton]

My Lords, as my noble friend will know, there are developments in new battery technology, such as lithium ion, which is a new technology that holds out huge hopes not just for powering electric vehicles but for storing energy, which could then be fed into the grid. The regulatory system is running behind the new technology, if you like, which is why we have issued the call for evidence.

Cataract Operations

Debate between Lord Prior of Brampton and Lord Spicer

Wednesday 16th November 2016 Lords Chamber

[Lord Prior of Brampton]

Clearly the case that the noble Lord mentions is totally unacceptable. Where CCGs are rationing access to cataract operations on such a crude basis, we would all deplore that. But as I said, there is variation around the country, and the new NICE evidence-based guidelines will help to address that.

[Lord Spicer (Con)]

My Lords, in terms of cost-effectiveness alone, is not the cataract treatment a good one to back? The developments have been remarkable. Years ago one spent two months in a darkened room, but now it is bad luck if one has to spend two hours.

[Lord Prior of Brampton]

The cataract operation is a remarkable one. There is a huge variation in productivity around England: some surgeons are extremely fast, and in some hospitals the process has been streamlined. Interestingly, in India, where cataract operations are largely done by technicians not doctors, the cost per operation is below $10.