Opposition Day — [15th Allotted Day] — Trade, Exports, Innovation and Productivity

Part of the debate – in the House of Commons at 3:44 pm on 13th January 2016.

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Photo of Stephen Kinnock Stephen Kinnock Labour, Aberavon 3:44 pm, 13th January 2016

The hon. Gentleman is making an interesting and important point about foreign takeovers, particularly hostile takeovers. One of the important ones recently was Pfizer’s attempt to take over AstraZeneca. I am sure he agrees that that case concluded in absolutely the right way, by protecting one of the great British assets and enabling it to continue its long-term strategies of investment in innovation and technology. Does he agree that this issue should perhaps be seen as a case for reform of the Companies Act 2006, so that we see far more long-termism built into the UK’s corporate culture and a move towards investing in innovation, R and D, and skills? If we do not do that, we will never change to a more sustainable business model.