Defence: Foreign Investment in UK

Defence written question – answered on 15th July 2008.

Alert me about debates like this

Photo of Mark Pritchard Mark Pritchard Conservative, The Wrekin

To ask the Secretary of State for Defence if he will discuss with the Secretary of State for Business, Enterprise and Regulatory Reform and the Chancellor of the Exchequer the potential for national security implications to arise from overseas shareholdings in British defence companies.

Photo of Bob Ainsworth Bob Ainsworth The Minister of State, Ministry of Defence

As the Government's Defence Industrial Strategy (Cm6697) made clear, we welcome overseas investment in the UK's Defence technological and industrial base. Transactions in the defence arena are closely monitored by Government Departments. Where a potential acquisition by a foreign company raises national security concerns, the Enterprise Act 2002 empowers the Secretary of State for Business, Enterprise and Regulatory Reform, normally following consultation with Defence Ministers, to intervene in order to remedy those concerns, usually through statutory undertakings provided by the acquiring company.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.