L

Lord Mair (CB)

Speaking in the House of Lords on 9 March 2026

Debate

British Business Bank

Contribution

My Lords, to follow up on the question from the noble Lord, Lord Ranger, I have the privilege of chairing the House of Lords Select Committee on Science and Technology, and we published a report recently on the financing and scaling of UK science and technology companies. To achieve real economic growth, our report recommended that the British Business Bank should work much more closely with the National Wealth Fund and Innovate UK, and that it should focus on priority sectors and companies in the direction set by the Government’s industrial strategy, which has already been referred to. It is good that the Minister has confirmed that that is the direction being taken. Is the British Business Bank actively implementing this in conjunction with the National Wealth Fund? Is it prioritising science and technology companies and the identified sectors of the industrial strategy?

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