My Lords, tempting as it is to have a large-scale debate about nuclear energy, I do not think that noble Lords will want that. I broadly understand where the noble Baroness is coming from, and I am sympathetic to the thrust of what she is saying. However, I say to her and to the noble Lord, Lord Blencathra, that nuclear is part of the package. It is the essential baseload. We are going to be very reliant on wind and sun, and the whole thing has to be seen together.

We have this huge potential now. Hinkley Point C is making real progress. A final investment decision has been reached for Sizewell C. The noble Lord, Lord Blencathra, is right about the importance of the appraisal that GBN has undertaken, and government support for Rolls-Royce, and the announcement this week of the agreement with the US, which is twofold. The first point is regulatory alignment, which means, rather like in the pharmaceutical sector, that if one of the major regulators in the US, the UK, or Europe signs off a particular medicine, there is often mutual recognition. Clearly, this is important in meeting this point about reducing the amount of unnecessary bureaucracy in relation to regulation in future. The second point is on the announcement by a number of US companies, particularly from the west coast, who wish to invest in AI and data centres in the UK aligned to advanced modular reactors, which is fantastic news.

On the point made by the noble Lord, Lord Blencathra, I am sure Rolls-Royce is going to be in a very good position, but it has to be open to companies to invite other countries’ reactors as well. You do not want to put all your eggs in one basket in any case. The question then comes back to the issues we have been talking about recently as to whether the regulatory system we have collectively is going to be up to meeting this challenge. I commend a report published yesterday by Britain Remade, whose conference I happened to attend, which caused such offence to my noble friend. It is a very good report about the history of nuclear power development in this country. We had the lead once upon a time. We foolishly threw it away. We have a great chance to get back in at a substantive level, but at the moment it simply costs too much. There are various reasons: there is overspecification—we have heard that before—and there is slow resource-intensive consultation, planning and permitting. We have heard about the issues around some of the environmental protections, and there are various other reasons as well.

I wanted to ask my noble friend this. She knows that there is a Nuclear Regulatory Taskforce. It was set up under the auspices of the Prime Minister and the Chancellor. It gave an interim report in the summer. It is going to come back very soon with a substantive report, but the interim report spoke of,

“fundamental concerns about how regulation operates in practice, with the most prominent being that the system is perceived to be unnecessarily slow, inefficient, and costly”.

On the assumption that this report comes out within the next few weeks, will it be possible to use this Bill on Report as a way of trying to deal with some of the regulatory hurdles? I understand that my noble friend probably cannot answer that, first because the Government have not received the report, and secondly because they will have to consider how to do it, but I just express the hope that we might be able to use this Bill as a vehicle.