Michael Shanks

Michael Shanks

Labour — Rutherglen

Speaking in the House of Commons on 2 June 2026

Debate

Transition from Fossil Fuels: Progress

Contribution

The hon. Member is right to highlight the enormous potential. For a very long time, the UK has not been good at growing the good innovation and spin-outs coming out of our university and innovation space. We need to nurture them, but also build on them and invest in them in the future. That is why we are investing in that early stage development, and it is also why Great British Energy is interested in what the next set of innovations are, how we can back them and, crucially, how we can keep the intellectual property here in the UK and also build the supply chains and the industry that goes along with it. It is a huge opportunity for us, and today’s report from the CBI outlines just how crucial it is to the overall British economy that we continue to grow and nurture the exact industries that he talks about.

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