Yes, the hon. Gentleman is absolutely right. And this is not just a uniquely British issue; this is an issue for the entire western and democratic world. Chips are just one area of a great number where that overreliance is a threat to our economic and security interests. The total market cap of TSMC’s 20 customers is worth around $7.4 trillion. To put that in context, that is over twice the size of the British economy.

Taiwan sits at the nexus of shipping lanes that connects the world to China, South Korea and Japan. Together, they account for 40% of global manufacturing output. Half the global container fleet passes through the straits each year, dwarfing the traffic that passes through the Suez canal. With all that in mind, and given that it is the stated objective of the CCP to unify Taiwan with the mainland—either by force or by some other form of coercion—may I ask the Minister what modelling the Government have done of the impact of a war, or a blockade of Taiwan, on the UK economy? May I also ask her what industries and sectors would be most at risk? Is there a strategy for de-risking, and what engagement has there been with industry on a potential shock in the Taiwan strait?

Motion lapsed (Standing Order No. 9(3)).

Motion made, and Question proposed, That this House do now adjourn.—(Ruth Edwards.)