GKN: Proposed Takeover by Melrose

Part of the debate – in the House of Commons at 1:54 pm on 27 March 2018.

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Photo of Greg Clark Greg Clark The Secretary of State for Business, Energy and Industrial Strategy 1:54, 27 March 2018

R&D was one of the important matters that I specified in my letter about which it is in the public interest for commitments and assurances to be given. Commentary has been made on that, and the hon. Lady will want to study what has been said, in particular about Abingdon. The tests for public intervention are long standing, consistent and required by European law, and they relate to financial stability, media plurality and national security. For many years, they have limited the grounds for intervention, which is why it seems right and appropriate, where there are wider issues of concern, that I should use my ability to write to and press the company to be clear about its intentions.