To ask Her Majesty's Government what steps they are taking to ensure that trade and business resources in the UK are not exploited by foreign businesses, in particular businesses based in China, during any economic depression resulting from the COVID-19 pandemic.
Answered on
20 May 2020
The Government continues to monitor the market closely during the Covid-19 pandemic and will take steps, as necessary, to ensure that UK businesses are not exploited.
The Government has existing powers, under the Enterprise Act 2002, to intervene in mergers and takeovers under three public interest considerations - national security, financial stability, and media plurality.
In December 2019, the Queen’s Speech lobby pack confirmed the Government’s intention to legislate to “strengthen the Government’s existing powers to scrutinise and intervene in business transactions to protect national security”.