Question to the Cabinet Office:

To ask the Minister for the Cabinet Office, on how many occasions his Department has exercised powers under the Enterprise Act 2002 to intervene in transactions which raised national security concerns in each of the last three years.

Between July 2020 and January 2022, the Secretary of State for Business, Energy and Industrial Strategy has issued Public Interest Intervention Notices under the Enterprise Act 2002, on national security grounds, in relation to the following acquisitions:

• the proposed acquisition of Ultra Electronics Holdings plc by Cobham Ultra Acquisitions Limited;

• the proposed acquisition of The Perpetuus Group by Taurus International Ltd and others; and

• the proposed acquisition of Meggitt plc by Parker-Hannifin corporation

In addition, the then Secretary of State for Digital, Culture, Media and Sport used the same powers in relation to the proposed acquisition of Arm by NVIDIA in April 2021.

Since 4 January 2022, the Government has had powers under the National Security and Investment (NSI) Act 2021 to scrutinise and, where necessary, intervene in acquisitions which may raise national security concerns. These powers replaced the national security limb of public interest intervention powers under the Enterprise Act 2002. In February 2023, responsibility for NSI moved from the Department for Business, Energy and Industrial Strategy to the Cabinet Office, under the Deputy Prime Minister.

The Government promised to deliver a regime that is as business-friendly as possible while protecting our national security. The National Security & Investment Act Annual Report demonstrates that we are succeeding in that mission.