Private Equity Takeovers Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Baroness Chakrabarti
Main Page: Baroness Chakrabarti (Labour - Life peer)Department Debates - View all Baroness Chakrabarti's debates with the Department for Business, Energy and Industrial Strategy
Private Equity Takeovers
Baroness Chakrabarti Excerpts(2 years, 6 months ago)
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Lord Callanan (Con)
It is difficult to give specific examples, but there are grounds under national security, financial stability, media plurality or public health emergencies for the Secretary of State to intervene in mergers and takeovers, and, of course, the CMA monitors competition grounds. Beyond those factors, we welcome inward investors and I agree with the noble Lord that we should be an open and accessible economy.
Baroness Chakrabarti (Lab)
My Lords, everyone agrees that there is a benefit in investment, but we are not talking about long-term or even medium-term investors. We are talking about short-term profiteers. They are opaque, undertaxed and underregulated. Will the Minister sense the mood of this House and consider regulating in this area, not just on national security grounds but on human security and economic security grounds?