Critical Minerals Strategy

Sarah Olney Excerpts

Monday 24th November 2025 Commons Chamber

[Madam Deputy Speaker (Ms Nusrat Ghani)]

I call the Liberal Democrat spokesperson.

[Sarah Olney (Richmond Park) (LD)]

I also thank the Minister for advance sight of the statement. Critical minerals are vital to national security, economic development, the green transition and regional prosperity. The Liberal Democrats believe that the UK must strengthen and regularly update its industrial strategy. The 2022 plan and the Critical Minerals Intelligence Centre are useful foundations, but they are insufficient.

We have long been champions of industrial strategy, and we are proud of the strategy that we introduced in Government. I am glad that the Government are taking steps to address green growth, regional inequality and sustainable economic development, and we welcome the ambition shown in the strategy announced today. Increasing domestic production will boost our national resilience to supply chain changes. We support the commitment for at least 10% of annual UK demand to be met from domestic production by 2035. However, what further steps are the Government taking to reduce reliance on unreliable foreign sources of critical minerals? Furthermore, how will the Government ensure that the UK remains competitive with the US and the EU, both of which offer substantial incentives for critical minerals processing?

We welcome the launch of the consultation today on the British industrial competitiveness scheme. Energy-intensive industries are set to benefit from a 90% discount on their electricity network charges, but what support will be available to small businesses, including the many in the hospitality sector that were omitted from the industrial strategy and continue to struggle with energy bills?

[Chris McDonald]

I thank the hon. Lady for her words on the strategy. Words are one thing, but implementation is another. This Government are now focused on how we implement the strategy and ensure that we attract investment. The single biggest difference with this Government is that we are putting real money behind the strategy; as I mentioned, we are putting in an additional £50 million, bringing the total funding to £200 million. Through both the British Business Bank and the National Wealth Fund, there are opportunities for more significant investment to ensure that we have UK-headquartered, UK-owned and UK-listed industrial champions in this area. We are not agnostic about industry and manufacturing, and we want to ensure that the communities that host these businesses benefit from that and that the UK economy benefits as a whole.