International Investment Debate
Full Debate: Read Full DebateBob Stewart
Main Page: Bob Stewart (Conservative - Beckenham)Department Debates - View all Bob Stewart's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 10 months ago)
Commons ChamberI am grateful to the hon. Gentleman for his questions, although I am surprised that he did not want to welcome the investment decision in Bombardier. In response to his—perfectly reasonable—question, “Why now?”, it is right to upgrade our systems for scrutiny periodically. A national security risk assessment was carried out recently, which correctly pointed out that smaller companies have the potential to pose a threat to national security, and these measures respond to that. We are publishing a Green Paper; Parliament is being invited to scrutinise it, as the essence of a Green Paper is that it is published for Parliament, as well as people in the outside world, to examine. On military technology and the scrutiny of arms sales, I think the hon. Gentleman should know that that is already subject to a licensing procedure.
Will my right hon. Friend confirm to the House that robust due diligence is always carried out on foreign investment when it might afford other Governments control of systems that are closely linked to national security, such as the grid?
That is the essence of the proposals, and it is necessary to update them from time to time in line with the recommendations that arose from the national security risk assessment. It is very important—it is the first duty of Government—to make sure that we are protected from hostile threats.