Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulations 2025

Lord Cromwell Excerpts

Tuesday 22nd July 2025 Lords Chamber

[Lord Shinkwin (Con)]

My Lords, I listened carefully to the remarks made, and I thank my noble friend Lord Forsyth of Drumlean and the noble Lord, Lord Fox, for making such a compelling case.

If only this were about the survival of specific newspapers; however, as we have heard so clearly today, it is about the survival of the fundamental freedom of our media from Governments, as Fraser Nelson has argued so persuasively. It is the insidious nature of the threat contained in this statutory instrument that alarms me and that should, I believe, alarm us all. That is why I urge all Members of your Lordships’ House to support this fatal amendment.

[Lord Cromwell (CB)]

My Lords, two practical things are puzzling me. First, if we swallow the ideas that 15% does not bring influence and that it can be checked, monitored and proved—both of which are quite big mouthfuls to swallow—what action will actually be taken? What penalty will be imposed that will not damage the very publication that we are talking about?

Secondly, we are asked to allow this investment because there is, in essence, an existential threat. That feels to me like a bailout. What will happen if that cash runs out and more is needed? Will there be pressure for, perhaps, a further 5% to be added? Alternatively, will we have another discussion about what an acceptable level of shareholding will be to bail out that newspaper again? I do not have complex conspiracy theories in mind, but that seems an obvious trap. If you give money to a struggling business, it is likely to ask you for more later, which will give you more control.

[Lord Udny-Lister (Con)]

My Lords, I oppose the Motion from the noble Lord, Lord Fox. In so doing, I have a non-pecuniary declaration I must make: I am the co-chairman of the UAE-UK Business Council, so I am fully aware of the situation there.

The Government’s proposal would allow a minority, non-controlling stake of up to 15%. I cannot see any issue with this, for this is not a majority control nor is it a back-door granting of our press to be editorially censored by foreign state actors. We are simply discussing the ability for our national newspapers to seek investments needed to survive in this interconnected world in which we now operate.