Lord Stirrup
Main Page: Lord Stirrup (Crossbench - Life peer)(1 day, 9 hours ago)
Lords Chamber
Lord Lemos (Lab)
My noble friend raises a very important point, which is the basis of a very live and active discussion within government at the moment. I have already mentioned the launch of the critical mineral strategy. I want also to draw attention to the urgency and the energy with which this problem is being addressed. The UK and the US signed an MoU on critical minerals in Washington DC on 4 February, only three weeks ago, and this will help secure supply in the mining and processing of critical minerals. I also want to address my noble friend’s question about our work with partners and allies. Our long-standing and trusted relationships with our partners and allies around the world, including Japan, are one of our strongest—both hard-power and soft-power—assets. We are engaging very actively with Australia, including early discussions on collaboration on its critical mineral strategic reserve project. We are also working, as I think my noble friend would expect, with NATO, Five Eyes, AUKUS, Canada and France.
It is the turn of the Cross Benches.
My Lords, the fact that 85% of all drone components worldwide come from China illustrates the urgent need for a more resilient supply chain. The development of such a supply chain depends on the placing of orders in the appropriate industries to build up their capacity. In the UK’s case, the placing of such orders seems to depend on the defence investment plan. When are we going to see this elusive document?
Lord Lemos (Lab)
I think my noble friend Lord Coaker has run out of ways to say, “It’ll be along soon”, so perhaps I should just say, “It’ll be along soon”. On the wider question that the noble and gallant Lord raises, it is absolutely true that these components are central, not just to defence industries, as he knows, but to the whole economy—to phones, laptops and all sorts of things. That is why the Government are putting such effort and such energy into a more resilient and sustainable supply chain. I can say, even in advance of the defence investment plan, that we have committed to public investment in the national critical mineral strategy. We are not just relying on the markets and private investment.