Ministerial correspondence on National Security and Investment proposals published

Business, Energy and Industrial Strategy Committee comments on Government’s proposals for new powers to block foreign takeovers

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Provider: 
UK ParliamentUK Parliament
URL: 
http://www.parliament.uk/business/committees/committees-a-z/commons-select/business-energy-industrial-strategy/news-parliament-2017/national-security-and-investment-correspondence-published-17-19/http://www.parliament.uk/business/committees/committees-a-z/commons-select/business-energy-industrial-strategy/news-parliament-2017/national-security-and-investment-correspondence-published-17-19/
Retrieved on: 
Thursday, December 20, 2018
Information
Tags: 
House of Commons of the United Kingdom, Parliament of the United Kingdom, Department for Business, Innovation and Skills, Economy, Department for Business, Energy and Industrial Strategy, Energy in the United Kingdom, Rachel Reeves, Business, Energy and Industrial Strategy Committee
Summary
Key Points: 
  • Following recent correspondence with the Business & Industry Minister, Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy (BEIS) Committee commentson the Governments proposals for new powers to block foreign takeovers.
  • The BEIS Committeepublishes a letter from Richard Harrington MP, Minister for Business and Industry, Department for Business, Energy and Industrial Strategy responding to a series of questions raised in a joint BEIS & Defence Committee hearing on the Governments National Security and Investment proposals.
  • Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Committee said:
    The Government is proposing a bigger role for Ministerial intervention in foreign takeovers but remains unclear about how it will implement these proposals, or the resources required to manage the expanded regime.
  • There is potential for conflict to arise between defence and business interests in judging foreign takeovers.
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