25 Oct 18. On Tuesday morning, the Business, Energy and Industrial Strategy Committee and the Defence Committee will hold a joint session with Ministers on the Government’s proposals for new powers to block foreign takeovers.
Stuart Andrew MP, Parliamentary Under Secretary of State, Minister for Defence Procurement, and Richard Harrington MP, Parliamentary Under Secretary of State, Minister for Business and Industry, will face questions on the proposals to increase Government scrutiny of foreign takeovers, as outlined in July’s White Paper ‘National Security and Investment’.
Commenting ahead of the session, Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Committee said: “This is a valuable opportunity to question Ministers on the expansion to the powers which Government has to block foreign takeovers. It’s vital that the UK remains an attractive destination for foreign investment while ensuring the right safeguards are in place to protect important UK assets, technology and intellectual property. The Business Committee will be keen to examine the burden these proposals will place on business and, given the expected increase in Government intervention, what clarity the Government is providing to businesses on how the regime will work in practice”.
Chair of the Defence Committee, Dr Julian Lewis, said: “Our worry is that if the intellectual property for a military project resides in a particular company, and if that company is broken up and sold off, we could end up with potentially hostile countries owning the intellectual property rights to our defence products. We need to know that, according to the Enterprise Act 2002, a Secretary of State would intervene in mergers where they give rise to a certain specified national security concern. “
Witness schedule:
Tuesday 30 October, 10.45am (Venue: The Boothroyd Room, Portcullis House)
- Stuart Andrew MP, Parliamentary Under Secretary of State, Minister for Defence Procurement
- Richard Harrington MP, Parliamentary Under Secretary of State, Minister for Business and
Industry
- Alex Chishom, Permanent Secretary for BEIS
- Tom Aldred, Executive Director, UKGI.
House of Commons and House of Lords Hansard Written Answers
Q
Asked by Lord Campbell-Savours
Asked on: 11 October 2018
Ministry of Defence
Electronic Warfare
HL10610
To ask Her Majesty’s Government whether proposals for a joint cyber force and its location are the subject of a consultation.
A
Answered by: Earl Howe
Answered on: 24 October 2018
Her Majesty’s Government recognises the rapid growth in the strategic importance of cyber capability to our defence and national security and as a key facet of national resilience, influence, and military capability. The provision and development of cyber capability is being reviewed as part of the broad remit of the Modernising Defence Programme.
Q
Asked by Lord Campbell-Savours
Asked on: 11 October 2018
Ministry of Defence
Electronic Warfare
HL10611
To ask Her Majesty’s Government whether Royal Air Force Wyton and Ministry of Defence Corsham have been considered for a joint cyber force operations centre.
A
Answered by: Earl Howe
Answered on: 24 October 2018
No decision has been taken on investment and structuring of future cyber capability.