Lord Broers

UKRI was set up in 2018 to maximise the collective impact of the seven research councils, Innovate UK and the research and knowledge exchange functions of HEFCE. The impact of innovation takes a long time to realise. As part of UKRI, Innovate UK have successfully delivered new approaches to innovation funding, such as the Industrial Strategy Challenge Fund and Innovation Loans pilot.

The government is clear that Arm is an important part of the UK's technology sector and makes a significant contribution to the UK economy.

The Competition and Markets Authority bears responsibility for assessing any competition impacts arising from the proposed deal and it will be following its normal regulatory processes in examining this deal. Separately, the Secretary of State also has the responsibility for determining whether or not to refer an acquisition on public interest grounds if relevant thresholds in the Enterprise Act 2002 are met. As such, we are examining this potential acquisition carefully.

We note that it is subject to regulatory approvals in multiple jurisdictions and is not expected to complete until 2022. It would be inappropriate to comment further at this stage.

Arm is an important part of the UK's technology sector and makes a significant contribution to the UK economy. The Government monitors acquisitions and mergers closely. When a takeover may have a significant impact on the UK we will not hesitate to investigate further and take appropriate action. We are examining this deal carefully.

The Graduate route will be introduced in the summer of 2021. To give assurance to those who begin their course overseas this year, the Government published guidance for international students on 16 June confirming that those who enter the UK to complete their course before 6 April 2021 will be eligible for the route if they meet the requirements.

The Graduate route will be introduced in the summer of 2021. To give assurance to those who begin their course overseas this year, the Government published guidance for international students on 16 June confirming that those who enter the UK to complete their course before 6 April 2021 will be eligible for the route if they meet the requirements.