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My Lords, would my noble friend agree with me, in respect of manufacturing post Brexit, that R&D is a very important part of manufacturing growth? The ONS revised statistics show that research and development in the UK was £33 billion just before Brexit; last year, it was £42 billion. This is in part thanks to the Government’s R&D tax credits of £6.7 billion last year. Will BEIS...
Will my noble friend be able to give, now or later, an estimate of the cost of ESG reporting to British companies? The reason I ask is that an SEC commissioner recently stated that the cost to the 4,600 companies it regulates of providing ESG reporting is currently at $2 billion and expected to rise to $8 billion with the new regulations.
My Lords, I add my congratulations to the noble Baroness, Lady Lea—no relation. She is someone I have admired for many years, in all her writings and output, and she gave a most excellent maiden speech. I welcome the Autumn Statement, which has helped the UK’s position as fiscally prudent, rescued the pound and helped interest rates—some might say that this is a coded message for...
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Entered the House of Lords on 17 October 2013
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