Newport Wafer Fab Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Flight
Main Page: Lord Flight (Conservative - Life peer)Department Debates - View all Lord Flight's debates with the Department for Business, Energy and Industrial Strategy
(2 years, 4 months ago)
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Lord Callanan (Con)
The noble and gallant Lord makes a good point, which is why we have strengthened our powers under the National Security and Investment Act, recently passed in this House. We look forward to implementing that legislation on 4 January. It will require notifications in 17 key areas of the economy. On top of that, the Secretary of State has additional call-in powers.
Lord Flight (Con)
My Lords, does the Minister agree that it would be a disaster if the last remaining large semi-fab business fell permanently into the hands of the Chinese?
Lord Callanan (Con)
As I said in response to an earlier question, Nexperia, the company concerned, already had 15% of this company anyway, and already owns other semiconductor manufacturing plants in the UK. The noble Lord can read its statement as to what it intends to pursue for this business, if he wishes to do so.