Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effect of the takeover of strategically significant UK-based companies by private equity firms on the national interest.

The UK is open for business and we welcome investment in our economy. The details of mergers and takeovers are primarily a commercial matter for the parties concerned. However, the Government acknowledges that there are instances when such transactions might result in broader concerns. This is why there is an established process for considering whether there are specific public interest reasons for Ministers to intervene in mergers under the Enterprise Act 2002. These include matters relating to national security, financial stability, media plurality and public health emergencies. The Government has recently strengthened those powers through the National Security and Investment Act 2021.