L

Lord Vallance of Balham (Lab)

Speaking in the House of Lords on 24 February 2026

Debate

Quantum Technology

Contribution

The noble Lord is right. About 11% of all companies in the world in quantum are in the UK. We are second in investment, but this is a race, others are spending huge amounts of money here and many of our companies look pretty attractive. That is why we have a series of programmes, not just funding at the front end to keep grant funding and other support but thinking about how we get pull-through into procurement. That is what will keep these companies here, allow them to grow here and allow them to have the export opportunities. I look at this on a daily basis. This is a critical technology, a big growth opportunity for the UK and one where we have years of advance progress putting us at the leading edge. Over the past 60 years or so, as a country we have not done well at making sure we scale and keep companies and new technologies. We must do everything we can to achieve this in quantum.

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