Electric Vehicle Battery Production

Lord Bishop of Durham Excerpts

Monday 23rd January 2023 Lords Chamber

[Lord Callanan (Con)]

I note the noble Lord’s nostalgia for the great, successful British industries of the 1970s under public ownership, but I do not think that is a viable suggestion. Government has proved that it is not good at running businesses and industry—we should leave that to the private sector, with appropriate government support where required.

[The Lord Bishop of Durham]

My Lords, the Minister loves the north-east, just like I do, and has noted that this is an extremely suitable site. Is not part of the problem that the return on investment is a very long way forward, so will the Government consider upping the amount they are willing to commit upfront to enable production on this site?

[Lord Callanan (Con)]

The amount of money on offer here was very considerable. I am not going to get into details of commercial negotiations but as I said, we stand ready to talk to any potential investor in that site or any others. The right reverend Prelate is right that this is one of the best sites in Europe for such a facility: it has the right shape, connections and location. We are optimistic it will be taken forward, but as the right reverend Prelate will understand, I am not going to get into commercial negotiations at this point.