Oral Answers to Questions

Jack Dromey Excerpts

Wednesday 14th March 2018 Commons Chamber

[The Prime Minister]

I commend Horsham for holding an apprenticeship fair; it is important that we give young people the opportunity of an apprenticeship. My hon. Friend is absolutely right that we can fund public services only if we have strength in our economy providing the income for us to do so. In the past few weeks, we have seen that manufacturing output has grown for nine consecutive months for the first time since records began in 1968. We have seen the best two quarters of productivity growth since the financial crisis and the lowest year to-date net borrowing since 2008, and employment is near a record high. The Conservatives are delivering a strong economy, new jobs, healthier finances and an economy that really is fit for the future.

[Jack Dromey (Birmingham, Erdington) (Lab)]

Q2. Last week, GKN workers came to Parliament—typically 25 and 30 years’ service, their mums and dads before them working for a British engineering icon that is 259 years old. Sat opposite were the three fabulously wealthy owners of Melrose, determined to stage a hostile takeover of the company, break it up and sell it off. I ask the Prime Minister this. She told Parliament that she would act in the national interest; the next 10 days will decide the future. Will she use the powers that she has to intervene and block this hostile takeover in the British national interest?

[The Prime Minister]

As the hon. Gentleman knows, the Business Secretary has been speaking to both companies on an impartial basis. We will always act in the UK’s national interest; actually, it is under this Government that we have seen the changes introduced to the takeover code to provide greater transparency and give target firms more time to respond. There is a narrow range of scenarios where Ministers can intervene on mergers on public interest grounds, but we will always ensure that we act in the national interest.