Vauxhall/Opel: Proposed Takeover
Debate between Greg Clark and Nigel Mills(7 years, 3 months ago)
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Greg Clark
I think that the hon. Lady started by saying that the deal has been agreed, so let me first say that the deal has not been done. Secondly, no one could be under any illusions as to the vigour of our response. Of course, the Prime Minister will need to find the time in her diary for a meeting, but we are keen to continue the close contact we have had.
Nigel Mills (Amber Valley) (Con)
The various takeovers that were talked about over the weekend show the importance of having robust and enforceable rules on takeovers and mergers. When will the Government come forward with new policy so that we will know not only how we will handle takeovers when we leave the European Union, but how we can intervene in deals that we do not want to take place?
Greg Clark
It is important to reflect on the context: our reputation as an open economy that attracts overseas investment is one of the foundations of our success. We need to maintain that success and reputation. We have said that we will bring forward proposals, as we will regarding corporate governance. We will do that in due course and I will update the House at that time.
Oral Answers to Questions
Debate between Greg Clark and Nigel Mills
Greg Clark
I certainly will, and I am grateful for the hon. Gentleman’s attendance to this issue; it is very important. No two places are identical, which is the very insight we are having—we are having bespoke deals in each place—but it is important for his and other Members’ constituents to feel they have enough say in the election of people who are going to provide leadership for them.
Nigel Mills (Amber Valley) (Con)
Will the Secretary of State say how flexible he is prepared to be on redrawing the boundaries of certain cities to allow, perhaps, certain districts that may currently be in one area and that might prefer to be in a different area to choose to be in that new area?
Greg Clark
As my hon. Friend knows, the principle that runs throughout the devolution Bill that we have been debating is one of consensus, so the Bill gives me powers to give effect to what local people put forward but not to impose something against their will. It is an enabling piece of legislation, and what it does mean is that Members such as my hon. Friend have the chance to shape the debate locally.