Telegraph Media Group: Proposed Sale to RedBird IMI

Iain Duncan Smith Excerpts

Tuesday 30th January 2024 Commons Chamber

[Julia Lopez]

I thank the hon. Lady for her rather hyperbolic intervention. We are having a debate because two public interest intervention notices have been issued. The Government take their powers in this respect seriously, and the Competition and Markets Authority and Ofcom will be given the space and time to look into all these issues in detail. Those notices were issued because the Secretary of State takes the issues of media freedom and the ownership of important British media institutions extremely seriously.

I therefore ask the hon. Lady to help us. Those investigations are under way; we must not prejudice them and must ensure they are watertight. The important question of media ownership is something that all Members of this House care about. It would be regrettable if I were to say anything in this Chamber that should prejudice that process, so I say again to the hon. Lady that action has been taken, it is something the Government take seriously, and I ask her to let the process take its course.

[Sir Iain Duncan Smith (Chingford and Woodford Green) (Con)]

It is hugely new for us to be told that we will not get our questions answered at the Dispatch Box. We are used to that happening anyway, but it is good to be told that it is a waste of our time being here in the first place.

To press on with not being answered, I say to the Minister that I and 28 others, across all parties, wrote a letter to her Department specifying that we were all opposed to this potential takeover. We made it clear that we are not opposed to it because we dislike that particular Government—although I have to say that that may well be a feature. Rather, we would oppose it if the French Government wished to buy the newspapers, or even if this Government decided they would control them. We would oppose that on the basis that it would trample right across the idea of freedom of the press.

Following the notice that has gone to the CMA, I simply ask the Minister whether she would ask the Secretary of State to create a new PIIN on the basis that RedBird IMI has twice disrupted the Government’s efforts to properly scrutinise the purchase. Particularly with the idea of debt being loaded into the purchase, we need a further detailed investigation. I would be grateful if the Minister did that, because this could easily turn into a disaster for this Government.

[Julia Lopez]

I did not say I would give no answers; I said I would be able to give general answers, and my right hon. Friend will understand why. These are very precise processes that must be kept watertight, and I would not want to do anything to prejudice them or the Secretary of State’s ability to act in a way that is in the interests of this country and the media. This is not a waste of time. It is an opportunity for this House to make its voice and opinions known on what is a controversial issue of great public interest—an issue that we as a Government are very interested in.

My right hon. Friend also makes the important point that his concern is not about the Government in this particular case, but about Government ownership in principle. It is something I appreciate and understand, and I am sure it will be in the Secretary of State’s mind.