National Security and Investment Bill

Lord Fox Excerpts

Wednesday 28th April 2021 Lords Chamber

[Lord Fox (LD)]

My Lords, the sands of dissent are passing through the hourglass of incredulity. The Minister is right; there has been a long debate. It is very nice to hear that he values the expertise and that he has been able to hear it. It is disappointing that, having valued it, he considers it insufficiently valuable to take the advice that the expertise came up with.

Some time between our last meeting and this one, an email came through from Darren Jones, the chair of the Business, Energy and Industrial Strategy Committee, setting out the fact that an MoU has been exchanged on the subject that we are debating. There is one curious sentence in there, which states:

“I have had to protect the position of my own committee …”.


It is late and I will not press that, but it smacks a little of someone being strong-armed, which is a shame.

The other sentence comes at the end of the email’s penultimate paragraph, which states:

“Should my Committee find any of our scrutiny of the Investment Security Unit is inadequate, we will of course make that clear on the record.”


That is somewhat reassuring. I know that Darren Jones is someone whom one can trust, and I am sure that if he and his committee find that to be the case, that is what will happen and we will of course be listening and watching for it.

We look forward to the Statement being brought forward for debate in both Houses as a consequence of the Bill, and we look forward to debating the technologies that will be put into the Bill.

[Baroness Hayter of Kentish Town (Lab)]

My Lords, it is a treat for us to have the Minister here again. He says that there is some scepticism in the House about this matter. I think that there is some mystification, actually. It is said that when he heard about Talleyrand’s death, Metternich said, “What did he mean by that?” There is a bit of me that, as a historian, wonders how historians looking at this in the future will ask, “What was going on? What did they mean by that?”—to have such a squabble, and to go back and forward at the end of a Bill that we all agree is important, over the possible addition of five words in a memorandum of understanding. That is what we have got down to. And I remain mystified. One day, maybe long into the future, when the noble Lord and I have gone on to other things but are still in the land of the living, we may sup together and hear what was really behind the resistance to amending the memorandum of understanding simply to allow one committee to look at the work of the unit.

Having said that, we are pleased that we are now at the end of the Bill. We wish it and the new unit in the Minister’s department well. We talked previously about the number of notifications that it may have to deal with. There is a real challenge there. We seriously wish that unit well as it begins to take on and embed what this soon-to-be Act will enable it to do.