The Committee will aim to clarify the precise nature of the economic relationship between the UK and China, setting out the risks involved and determining the relative level of risk for different areas of economic engagement. It will assess the way Government weighs trade-offs and makes decisions, the effectiveness of the its existing regulatory toolkit and implementation. Finally, it will explore how the UK’s allies and partners are mitigating these risks, the lessons that the UK could draw, and the ways in which the UK and its allies might strengthen co-operation to address the economic security challenges posed by China.

The Government has identified critical minerals as one of the UK’s “foundational sectors”, which support the resilience of the IS‑8 sectors. It has published a new critical minerals strategy, the third in four years. The strategy sets two core objectives: increase domestic production, and build resilient UK and global supply networks. For the first time, the Government has set targets for domestic production, recycling, and diversification of supply chains.

The Business and Trade Sub‑Committee on Economic Security, Arms and Export Controls is launching an inquiry to consider how domestic production and trade can support a secure supply of critical minerals for UK industry, and assess the likely impact of the proposals set out in the Government’s strategy.

AI has advanced rapidly in recent years, supported by major improvements in computing power, data availability and the emergence of large language models (LLMs). This has enabled AI to perform an expanding range of tasks.

AI adoption has increased, but uptake remains uneven. As adoption accelerates, AI is expected to have significant impacts on UK business and the UK workforce, reshaping work. It will prove a growth industry in itself, enhance productivity, disrupt existing industries and business models, cost jobs, and create jobs.

The Government’s AI Opportunities Action Plan includes a twentyfold expansion of public AI hardware by 2030 and seeks to leverage private investment through initiatives such as the US–UK Tech Prosperity Deal (with £30 billion committed by major technology firms).