Sovereign Defence Capability: Meggitt Takeover Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord McFall of Alcluith
Main Page: Lord McFall of Alcluith (Lord Speaker - Life peer)Department Debates - View all Lord McFall of Alcluith's debates with the Department for Business, Energy and Industrial Strategy
Sovereign Defence Capability: Meggitt Takeover
Lord McFall of Alcluith Excerpts(3 years, 2 months ago)
Lords ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Lord Callanan (Con)
As I said, we have not taken any decision on the current takeover yet, but the UK will always enthusiastically champion free trade, recognising that the vast majority of inward investment into this country is highly beneficial and creates jobs and prosperity for the country. An open approach to international investment, as many other countries have, has to include the appropriate safeguards. We have powers under the Enterprise Act 2002 to intervene in mergers or takeovers that raise particular public interest concerns. As I have intimated in other answers, we have recently strengthened our powers through the National Security and Investment Act, which will commence on 4 January.
The Lord Speaker (Lord McFall of Alcluith)
My Lords, all supplementary questions have been asked and we now move to the next Question.