UK Newspapers and News Magazines: Foreign Investment

Viscount Colville of Culross Excerpts

Thursday 27th March 2025 Lords Chamber

[Baroness Twycross (Lab)]

I am going to frustrate and potentially annoy your Lordships’ House by not responding directly to that question. We are clear that we need to address the complex issues raised during the consultation. This is not about us not recognising how important the issue is; it is actually the opposite.

[Viscount Colville of Culross (CB)]

My Lords, I will have one more go at trying to get a clear answer from the Minister. Many in the media industry are concerned that UK companies will not be able to use debt financing from foreign government institutions to finance acquisitions of newspapers. This is in contrast to simply preventing equity investment from foreign government institutions, which is the real intention of the rules. Will the Minister address these concerns directly?

[Baroness Twycross (Lab)]

The noble Viscount raises exactly the type of complex issue that requires careful consideration. I am committed to bringing this matter back to your Lordships’ House in the near future—I have been told that I can continue to say “in the near future”—and we will bring an SI to your Lordships’ House shortly thereafter.