Oral Answers to Questions

Debate between Perran Moon and Jonathan Reynolds

Thursday 17th July 2025 Commons Chamber

[Perran Moon (Camborne and Redruth) (Lab)]

10. What assessment he has made of the potential impact of the industrial strategy on Cornwall.

[The Secretary of State for Business and Trade (Jonathan Reynolds)]

As we have heard, the industrial strategy is a plan to lift every part of the country, and it specifically recognises clean energy opportunities for offshore wind and nuclear in the great south-west. The strategy also highlights foundational industries relevant to its eight sectors’ supply chains, including spotlighting critical minerals clusters in Cornwall. It included the launch of a new UK Export Finance loan guarantee scheme for domestic suppliers selling critical minerals to UK exporters. The upcoming 2025 critical minerals strategy will aim to secure a steady supply of minerals, optimising domestic resources and enhancing international collaboration.

[Perran Moon]

As the Secretary of State mentions, with its vast renewable energy and critical mineral resources, Cornwall is uniquely positioned to become a key driver of UK economic growth. Although the industrial strategy emphasises the role of mayoral strategic authorities and city regions, particularly in the north and midlands, does the Secretary of State agree that Cornwall’s immense industrial potential must not be overlooked, and can he reassure me that unleashing the Cornish Celtic tiger with the economic investment that we need is not contingent on joining a mayoral combined authority?

[Jonathan Reynolds]

I can give my hon. Friend that assurance. I was dismayed this morning to wake up and hear the Reform party actively arguing for less investment in Britain and telling businesses they should not invest in the UK. I find that absolutely absurd. There are a whole range of tools for local areas to shape their economies in the industrial strategy. Some relate to mayors, but many do not. It has the mix of tools that is required to unleash the potential of every part of the country, including his own.

Oral Answers to Questions

Debate between Perran Moon and Jonathan Reynolds

Thursday 12th December 2024 Commons Chamber

[Perran Moon (Camborne and Redruth) (Lab)]

T5.   I declare an interest as an officer of the all-party parliamentary group on critical minerals. Although Cornwall sits on some of the richest deposits of critical minerals in the world, including tin and lithium in my constituency of Camborne, Redruth and Hayle, there are significant geological reserves right across the United Kingdom, including in the north of England, Northern Ireland and the lands of our Celtic cousins in Wales and Scotland. Will the Minister confirm that domestic critical mineral production and processing will form a key part of the Government’s industrial strategy?

[Jonathan Reynolds]

I welcome my hon. Friend’s question, and I welcomed the time we spent together at South Crofty tin mine, which was also one of my favourite visits of the year. This is a hugely exciting area, and the opportunities for his area are particularly exciting. What we need is an open, transparent trading system where these products will have the certainty of access to markets, which will unlock the ability to use those deposits to our and our allies’ mutual interests.