Newport Wafer Fab

Lord Foulkes of Cumnock Excerpts

Thursday 7th April 2022 Lords Chamber

[Lord Callanan (Con)]

I am not sure I can help my noble friend—I do not know what investigation he is referring to. If he is referring to the question the noble Baroness, Lady Blake, asked earlier, on the review by the National Security Adviser which the Prime Minister announced, as I said to the noble Baroness, that review in ongoing.

[Lord Foulkes of Cumnock (Lab Co-op)]

My Lords, have the Tory Government learned nothing from the flirtation with Russian oligarchs? Why do they continue to put the interests of their friends, for the obtaining of a quick buck, ahead of national security?

[Lord Callanan (Con)]

I am sorry, but that comment is unwarranted. This is a commercial transaction between a company called Nexperia and Newport Wafer Fab. There are a lot of jobs involved—people are employed by Newport Wafer Fab—and this is an important issue. The Government will consider it properly with appropriate due diligence, based on the advice from a number of other government departments and from the National Security Adviser. The Business Secretary will take a decision in due course.