Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Vince Cable
Main Page: Vince Cable (Liberal Democrat - Twickenham)Department Debates - View all Vince Cable's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 11 months ago)
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Greg Clark
I do indeed. Space is one of the fastest-growing sectors of the economy, and we are world leaders in it. Through the Bill, we will ensure that we have the right regulatory regime to underpin that.
Sir Vince Cable (Twickenham) (LD)
Since the aerospace sector requires long-term planning and investment, does the Secretary of State not share my alarm at the threatened takeover of the leading tier 1 supplier GKN by a turnaround company specialising in maximising shareholder returns over five years maximum? Is this not a national security issue?
Greg Clark
The right hon. Gentleman is a previous occupant of my post, so he knows that the powers that the Secretary of State has over these things have to be exercised in a quasi-judicial way. Therefore, I should not, and cannot, comment on that case. However, he will know, because he has written to me, that I have spoken to both chief executives, and I am keeping it under close review.