Finance: Hostile Takeover Bids
Debate between Lord Elton and Baroness Wilcox
Baroness Wilcox
There were two questions there. One was about the Cadbury acquisition by Kraft, which raised wider questions, as we know, about short-termism and shareholder engagement. They are being considered as part of the reform of the Takeover Code and the Government’s call for evidence on the long-term focus for corporate Britain. Yes, I agree with the noble Lord on that. As to whether the Government would act to stop the takeover of a British energy company, I am unable to comment on any specific case. However, any proposed merger involving the supply of energy and its infrastructure would be subject to robust scrutiny and considered on its merits.
Lord Elton
The concerns of the four Members of the House on the other side are fairly widely shared. I declare an interest as a former member of the Takeover Panel. What are the arrangements now for keeping the Takeover Code up to date?
Baroness Wilcox
The Takeover Code is, as I have said, being reviewed at the moment. The Government strongly support the proposed changes to it, which will significantly strengthen the UK’s takeover regime.
Remembrance Sunday
Debate between Lord Elton and Baroness Wilcox(13 years, 5 months ago)
Lords ChamberRead Full debate Read Hansard Text
Baroness Wilcox
The right reverend Prelate brings an interesting question and I am very happy to answer it. There is no Act that says that anybody has to trade on a Sunday and no reason why a shop cannot be closed. The hours that shops have are between 10 am and 6 pm for six consecutive hours. They do not have to open for six consecutive hours. If they wish to, they are free on any Sunday to open from any time during those hours. They could possibly open in the afternoon rather than in the morning of this important event.
Lord Elton
My Lords, this is a national matter. I urge on my noble friend the idea that we need to establish certain national standards and a certain national consciousness in matters of state such as this. It seems not right that it should be left entirely to individual conscience. The Government have a duty to tell people what being British is and this is part of it.
Baroness Wilcox
My Lords, I can only give the answer that I gave before. In this country, we are very fortunate that so many of our citizens choose to observe Remembrance Sunday and Armistice on 11 November. The Government take the view that remembrance is a matter of personal conscience and is not something that should or can be legislated for.