(4 days, 8 hours ago)
Lords ChamberThe noble Lord asks a series of questions—at Question Time there is typically just one—which I suggest that we discuss when we have the Statement repeat from the other end, because my honourable friend the Security Minister will be on his feet on this very issue within the next two hours.
My Lords, if China is considered to be a security threat, will the Government end ownership of UK infrastructure by entities connected with the Chinese Government? That kind of infiltration formed part of the previous Government’s privatisation policies.
My noble friend raises an interesting point, which has been discussed many times in your Lordships’ House, about the role of Chinese investment in our country. The reality is that we consider both that there is an element of security threat but also that we have the potential to compete, challenge and co-operate with China. China is the second-largest economy and our third-largest trading partner; we have to have a level of engagement.
(10 months, 3 weeks ago)
Lords ChamberSorry, I did not realise. I was just beginning to enjoy that.
Just to finish off—not long to go now—the question is: why should these criminals be allowed to remain in charge? These things are not minor infractions. Last time we debated this, the Minister said that there were
“significant consequences for a company’s investors. Investors would not have the confidence to invest money if the special administration regime could be triggered without allowing a company to rectify any performance issues”.—[Official Report, 4/11/24; col. 1373.]
That is, again, a very strange argument that we should allow criminals to continue because somehow it might upset the market. On that basis, it would open the doors to criminal activities everywhere—
I am so sorry, but we have reached time. Thank you.