National Security and Investment Bill

Debate between Lord Sharma and Nusrat Ghani

2nd reading & 2nd reading: House of Commons
Tuesday 17th November 2020 Commons Chamber

[The Secretary of State for Business, Energy and Industrial Strategy (Alok Sharma)]

I beg to move, That the Bill be now read a Second time.

Our country has always been a beacon for inward investment and a champion of free trade. We recognise and celebrate the positive impact of these twin policies in delivering prosperity and opportunities across the United Kingdom. Over the past 10 years, the UK has attracted around three quarters of a trillion dollars of foreign direct investment, which in turn has helped to create 600,000 new jobs in our country.

In 2019-20 alone, more than 39,000 jobs were created in England thanks to foreign direct investment projects, with more than 26,000 of those jobs created outside London. Almost 3,000 jobs were created in Scotland, and more than 2,500 in Wales and 2,000 in Northern Ireland respectively. That is why we will continue to work relentlessly to ensure that the UK remains a great place to do business and invest. That approach is more important than ever as we look to business to create jobs in our recovery from covid-19.

The UK is very much open for business, but being open for business does not mean that we are open to exploitation. An open approach to international investment must also include appropriate safeguards to protect our national security. Those are not conflicting approaches; prosperity and security go hand in hand. Otherwise, we leave the United Kingdom open to the risk of being targeted and compromised by potential hostile actors who are looking to disrupt our economic and wider security.

[Ms Nusrat Ghani (Wealden) (Con)]

From the moment that this Bill was started to now, we have learnt a lot more about security and infrastructure.  Does my right hon. Friend share my concerns that the Chinese national intelligence law requires Chinese firms to assist with state intelligence work? This was brought to light for me when TikTok gave evidence to the Business, Energy and Industrial Strategy Committee. I am incredibly anxious about the data that it could potentially be harvesting and sharing back with its parent company, ByteDance.

[Alok Sharma]

I know that my hon. Friend cares very deeply about this issue and, indeed, she and I have had discussions about it. I would say to her that the Bill is agnostic as to the domicile of an acquirer. I think that that is right and proper, but it is also right and proper that we look at every single transaction on a case-by-case basis. Let me assure her that if there are security concerns with any transaction, of course we will act.

Oral Answers to Questions

Debate between Lord Sharma and Nusrat Ghani

Tuesday 10th November 2020 Commons Chamber

[Alok Sharma]

The hon. Gentleman knows me quite well and I think he will understand, at least in private, that I do very much care, as does every Member of this House. He talks about those who are not able to get access to this scheme, and, obviously, one issue relates to those who are paid in dividends. As he knows, Her Majesty’s Revenue and Customs has made the point that it is difficult to distinguish between income earned through an individual’s own company dividends and dividends that have been paid from holding shares in other companies. If the hon. Gentleman has suggestions as to how we might overcome this, I would be interested to work with him.

[Ms Nusrat Ghani (Wealden) (Con)]

What steps his Department is taking to support the manufacturing sector.

--- Later in debate ---

[The Secretary of State for Business, Energy and Industrial Strategy (Alok Sharma)]

I want to thank those in the manufacturing sector for the brilliant work they are doing to support the economy and keep it going. Despite the national restrictions, the manufacturing and construction sectors can continue to operate and are doing so. Thus far, the manufacturing sector has benefited from about £5 billion of furlough grants and £4 billion of government-backed loans.

[Ms Ghani]

I thank the Secretary of State for his response. I wish to seek further assurances on behalf of my three local chambers of commerce—Hailsham, Crowborough and Uckfield. What further support can be provided for small and medium-sized manufacturing firms in my constituency, not only during covid, but during transition next year?

UK Internal Market: White Paper

Debate between Lord Sharma and Nusrat Ghani

Thursday 16th July 2020 Commons Chamber

[Alok Sharma]

I am not sure how I respond to all that, except to say that the proposal we are putting forward is about protecting businesses and jobs across the whole UK.

[Ms Nusrat Ghani (Wealden) (Con)]

I welcome the Minister’s statement. Does he agree that these proposals will maintain current economic freedoms, which are vital to ensure that all of our nations survive and thrive post covid? This is good news for business and for job security, and, fundamentally, it enables us to level up across our great United Kingdom.

Oral Answers to Questions

Debate between Lord Sharma and Nusrat Ghani

Tuesday 16th June 2020 Commons Chamber

[Alok Sharma]

As the hon. Member will know, the latest figures show that over 49,000 loans have been approved, to the value of more than £10 billion. There is a significant number of lenders attached to the CBIL scheme, but if he has specific cases, he should definitely come and talk to me.

[Ms Nusrat Ghani (Wealden) (Con)]

I would like to put on record my remembrance of my good friend, Jo Cox. In the Business, Energy and Industrial Strategy Committee, we are undertaking an inquiry into the impact of covid on our major industries. All of them rely on our maritime and ports sector to keep the supply chain going. Of the £22 billion—a vast sum of money—that is being put together for research and development, how much will be allocated to maritime innovation and tech?

[Alok Sharma]

I pay tribute to my hon. Friend for all the work that she did as shipping Minister. We have made the commitment to £22 billion a year by 2025. That is the biggest increase in public funding of R&D, and no doubt, as projects come forward from that sector, we will look at them.

Oral Answers to Questions

Debate between Lord Sharma and Nusrat Ghani

Monday 4th December 2017 Commons Chamber

[Ms Nusrat Ghani (Wealden) (Con)]

With the abolition of stamp duty for most first-time buyers, families in Wealden will save, on average, £3,209 on their first home. Will the Minister say what else is being done to help families secure their first home?

[Alok Sharma]

Of course I am delighted that my hon. Friend has highlighted the stamp duty cut, but we also know that for a number of years we have been running the Help to Buy scheme, which has helped 135,000 households already, and the extra £10 billion committed a few weeks ago will help another 35,000 households.

Grenfell Rehousing

Debate between Lord Sharma and Nusrat Ghani

Wednesday 5th July 2017 Commons Chamber

[Alok Sharma]

I talked about the expert advisory panel, which will consider many such matters. As the Prime Minister said at last week’s PMQs, we need to look “much more widely” at what has happened

“under different Governments and under different councils”.—[Official Report, 28 June 2017; Vol. 626, c. 587.]

We will ensure that we get to the bottom of that. It is vital that people feel safe, and that is what we are going to ensure.

[Ms Nusrat Ghani (Wealden) (Con)]

I thank the Minister for his statement and for assuring the survivors that they will be supported at the pace they want. There have been disputed reports in the media about the number of missing residents, and the situation has been complicated by sub-letting. What efforts have been made to help to identify missing residents?

[Alok Sharma]

We want to build as full a list as possible of the people who were in the building at that tragic time. As my hon. Friend will know, the Director of Public Prosecutions has said that if people were sub-letting illegally, they will be exempt from prosecution. If some of them are aware of people who were in the building that we do not know about, I hope that they will come forward.

Oral Answers to Questions

Debate between Lord Sharma and Nusrat Ghani

Tuesday 18th October 2016 Commons Chamber

[Alok Sharma]

The UK of course has very good relations with both India and Pakistan, but our long-standing position, held by successive Governments of all hues, is that it is for India and Pakistan to find a lasting resolution to the situation, taking into account the wishes of the Kashmiri people. It is not for the UK to prescribe a solution or act as mediator.

[Nusrat Ghani (Wealden) (Con)]

There are no winners in Kashmir. The recent clashes have impacted on thousands of people and the economy is struggling, with over £1 million or 10,000 crore being lost in 100 days. A military solution is not working. I urge the Minister to encourage a political solution that involves not only India and Pakistan, but the Kashmiris themselves.

[Alok Sharma]

We should of course do all we can to promote trade and prosperity in the region, and that of course follows stability.