Private Equity Takeovers Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Holmes of Richmond
Main Page: Lord Holmes of Richmond (Conservative - Life peer)Department Debates - View all Lord Holmes of Richmond's debates with the Department for Business, Energy and Industrial Strategy
Private Equity Takeovers
Lord Holmes of Richmond Excerpts(3 years, 2 months ago)
Lords ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Lord Speaker (Lord McFall of Alcluith)
Lord Dubs? Not present? I call the noble Lord, Lord Holmes of Richmond.
Lord Holmes of Richmond (Con)
My Lords, does my noble friend agree that inward investment and an economy open for global business are good, but where a UK target company has been built largely and perhaps sometimes exclusively on taxpayer-funded government contracts, should we not reconsider the current regime?
Lord Callanan (Con)
It is difficult to give specific examples, but there are grounds under national security, financial stability, media plurality or public health emergencies for the Secretary of State to intervene in mergers and takeovers, and, of course, the CMA monitors competition grounds. Beyond those factors, we welcome inward investors and I agree with the noble Lord that we should be an open and accessible economy.