Oral Answers to Questions

Siobhan Baillie Excerpts

Wednesday 25th October 2023 Commons Chamber

[The Prime Minister]

It is worth bearing in mind that Labour Front Benchers backed the Future Fund when it was introduced—indeed, they were calling for more funding for it, not less.

The House will be aware of my wife’s shareholdings in various British start-ups. That is her career. Those are on the record, and I am happy to put that on the record again. It is worth bearing in mind that the Future Fund helped more than 1,200 different companies. Neither the Government nor the British Business Bank chose any of those specific investments; it was open to any British firm that met the criteria.

[Siobhan Baillie (Stroud) (Con)]

Q15. The UK is at risk of being left behind on hydrogen internal combustion engines. The EU and the USA now recognise hydrogen combustion engines as zero-emission and are supporting those industries, as all viable zero-carbon technologies will be needed—particularly for our HGVs, according to the Renewable Hydrogen Alliance. I am working with BorgWarner, PHINIA and many MPs on HICE, because this issue is crucial for UK jobs, skills and manufacturing. Will my right hon. Friend commit to urgently extending the scope of the automotive transformation fund industrialisation grants to include hydrogen engines, so that we win the HICE race?

[The Prime Minister]

The Government are determined to ensure that the UK remains one of the best locations in the world for automotive manufacturing. Hydrogen fuel cells and their upstream supply chains are already in the scope of the ATF, and support for the fund has enabled Johnson Matthey’s £60 million investment in Hertfordshire to develop hydrogen technologies. I am told by the Secretary of State for Business and Trade that the Department for Business and Trade is continuing to look at the future possibilities for renewable hydrogen and will consider the fund’s eligibility in light of the new developments in this space.