1-20 of 256 results for subject:Takeovers
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To ask the Minister for the Cabinet Office, when he expects the National Security Adviser to complete his review of the sale of Newport Wafer Fab to Nexperia; and if he will make a statement.
To ask the Minister for the Cabinet Office, when he expects the National Security Adviser to complete his review of the sale of Newport Wafer Fab to Nexperia; and if he will make a statement.
The Government is considering the case and no decisions have been made. As part of that consideration the National Security Adviser was asked to review this case. We are unable to comment on the details of national security assessments.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what meetings he has had with Nexperia on the takeover of Newport Wafer Fab.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what meetings he has had with Nexperia on the takeover of Newport Wafer Fab.
Ministers regularly meet with external stakeholders. Details of ministerial meetings with external organisations are published quarterly and can be found on GOV.UK at: https://www.gov.uk/government/collections/beis-ministerial-gifts-hospitality-travel-and-meetings.
To ask Her Majesty's Government why they have not used their powers under under the National Security and Investment Act 2021 to review the takeover of Newport Wafer Fab by Nexperia, a Chinese-owned company.
To ask Her Majesty's Government why they have not used their powers under under the National Security and Investment Act 2021 to review the takeover of Newport Wafer Fab by Nexperia, a Chinese-owned company.
The Government is considering the case. The UK Government has powers to intervene where there is a risk to national security under the National Security and Investment Act 2021, which commenced on 4 January 2022.
To ask Her Majesty's Government what discussions they have had with the UK's Five Eyes allies about strategic and security matters prompted by the sale of Newport Wafer Fab to Nexperia, a Chinese-owned company; and if they have had no such discussions, why not.
To ask Her Majesty's Government what discussions they have had with the UK's Five Eyes allies about strategic and security matters prompted by the sale of Newport Wafer Fab to Nexperia, a Chinese-owned company; and if they have had no such discussions, why not.
The Government is unable to comment on the detail of national security assessments or on strategic or security conversations with allies.
To ask Her Majesty's Government what assessment they have made of the remarks of the former head of the National Cyber Security Centre Ciaran Martin that (1) there were "very real concerns" about the buyout of Newport Wafer Fab by Nexperia, a Chinese-owned company, and (2) that it posed a...
To ask Her Majesty's Government what assessment they have made of the remarks of the former head of the National Cyber Security Centre Ciaran Martin that (1) there were "very real concerns" about the buyout of Newport Wafer Fab by Nexperia, a Chinese-owned company, and (2) that it posed a...
The Government does not comment on the detail of national security assessments.
To ask Her Majesty's Government what assessment they have made of national security interests in permitting the sale of Newport Wafer Fab to Nexperia, a Chinese-owned company.
To ask Her Majesty's Government what assessment they have made of national security interests in permitting the sale of Newport Wafer Fab to Nexperia, a Chinese-owned company.
The Government is considering the case and no decisions have been made. The Government is unable to comment on the details of businesses’ commercial transactions or on national security assessments.
To ask Her Majesty's Government, further to the takeover of Newport Wafer Fab by Nexperia, a Chinese owned company, whether the semiconductor plant is the largest in the UK; and what assessment they have made of the supply need for semiconductors in the UK.
To ask Her Majesty's Government, further to the takeover of Newport Wafer Fab by Nexperia, a Chinese owned company, whether the semiconductor plant is the largest in the UK; and what assessment they have made of the supply need for semiconductors in the UK.
Newport Wafer Fab is one of the largest semiconductor plants in the UK. The Government is aware of the vital role of the semiconductor sector in the global economy and remains committed to ensuring the UK sector continues to play an important role in an international ecosystem.
To ask Her Majesty's Government what assessment they have made of the remarks by their advisor to the Board of Trade, Tony Abbott, that the sale of Newport Wafer Fab "would not go ahead were it happening in Australia"; and what discussions they have had with him about those remarks.
To ask Her Majesty's Government what assessment they have made of the remarks by their advisor to the Board of Trade, Tony Abbott, that the sale of Newport Wafer Fab "would not go ahead were it happening in Australia"; and what discussions they have had with him about those remarks.
The Government does not comment on the detail of national security assessments.
To ask Her Majesty’s Government what is their position regarding the acquisition of Newport Wafer Fab by Chinese-owned technology company Nexperia.
To ask Her Majesty’s Government what is their position regarding the acquisition of Newport Wafer Fab by Chinese-owned technology company Nexperia.
My Lords, the Government are considering the case and no decisions have been made. I am unable to comment on the details of businesses’ commercial transactions or on national security assessments. The Government always stand ready to act, where necessary, to protect the UK’s national security.
My Lords, the Government are considering the case and no decisions have been made. I am unable to comment on the details of businesses’ commercial transactions or on national security assessments. The Government always stand ready to act, where necessary, to protect the UK’s national security.
My Lords, the Government are considering the case and no decisions have been made. I am unable to comment on the details of businesses’ commercial transactions or on national security assessments. The Government always stand ready to act, where necessary, to protect the UK’s national security.
To ask Her Majesty’s Government what is their position regarding the acquisition of Newport Wafer Fab by Chinese-owned technology company Nexperia.
My Lords, the problem here is that we seem to be looking at this issue in a vacuum. The Minister has said in the past that there are no specialist technologies at Newport Wafer Fab, but that ignores the need for industrial capacity to build technology. The Minister will say, and has said, that the factories will not move, so why should we care who owns them? I do care. There is a crippling shortage of microprocessors around the world that is hampering manufacturing. To combat that, the EU and the US have strategies.
We seem to be waiting and seeing. So, to put this acquisition into context, can the Minister tell us when will we have a plan? Will he undertake not to allow this business to be sold until such a plan is forthcoming?
My Lords, the problem here is that we seem to be looking at this issue in a vacuum. The Minister has said in the past that there are no specialist technologies at Newport Wafer Fab, but that ignores the need for industrial capacity to build technology. The Minister will say, and has said, that the factories will not move, so why should we care who owns them? I do care. There is a crippling shortage of microprocessors around the world that is hampering manufacturing. To combat that, the EU and the US have strategies.
We seem to be waiting and seeing. So, to put this acquisition into context, can the Minister tell us when will we have a plan? Will he undertake not to allow this business to be sold until such a plan is forthcoming?
I cannot comment on the details of that particular transaction, which is still under consideration, but I can tell the noble Lord that DCMS is working on a semiconductor strategy that will also be published shortly.
I cannot comment on the details of that particular transaction, which is still under consideration, but I can tell the noble Lord that DCMS is working on a semiconductor strategy that will also be published shortly.
I cannot comment on the details of that particular transaction, which is still under consideration, but I can tell the noble Lord that DCMS is working on a semiconductor strategy that will also be published shortly.
My Lords, the problem here is that we seem to be looking at this issue in a vacuum. The Minister has said in the past that there are no specialist technologies at Newport Wafer Fab, but that ignores the need for industrial capacity to build technology. The Minister will say, and has said, that the factories will not move, so why should we care who owns them? I do care. There is a crippling shortage of microprocessors around the world that is hampering manufacturing. To combat that, the EU and the US have strategies.
We seem to be waiting and seeing. So, to put this acquisition into context, can the Minister tell us when will we have a plan? Will he undertake not to allow this business to be sold until such a plan is forthcoming?
My Lords, this about the United Kingdom’s biggest producer of microchips and semiconductors; it is about national resilience and whether or not we wish to become a wholly owned subsidiary of the People’s Republic of China, which has been accused of genocide by Elizabeth Truss, our Foreign Secretary. What can the Minister tell us, for instance, about the value of contracts that his own department has had, or that the Ministry of Defence, perhaps more particularly, has had, with Newport Wafer Fab? What is the value of those contracts, and will the departments become customers of the People’s Republic of China, should this deal go ahead? Why are we not giving consideration to, and why will he not comment on, the remarks of Ciaran Martin, the former head of the National Cyber Security Centre, who said that there are “very real concerns” about the buyout and that it poses a greater threat than allowing Huawei to build the United Kingdom’s 5G network; and this week’s statement by the Foreign Affairs Committee in another place, that
“it potentially compromises national security”?
My Lords, this about the United Kingdom’s biggest producer of microchips and semiconductors; it is about national resilience and whether or not we wish to become a wholly owned subsidiary of the People’s Republic of China, which has been accused of genocide by Elizabeth Truss, our Foreign Secretary. What can the Minister tell us, for instance, about the value of contracts that his own department has had, or that the Ministry of Defence, perhaps more particularly, has had, with Newport Wafer Fab? What is the value of those contracts, and will the departments become customers of the People’s Republic of China, should this deal go ahead? Why are we not giving consideration to, and why will he not comment on, the remarks of Ciaran Martin, the former head of the National Cyber Security Centre, who said that there are “very real concerns” about the buyout and that it poses a greater threat than allowing Huawei to build the United Kingdom’s 5G network; and this week’s statement by the Foreign Affairs Committee in another place, that
“it potentially compromises national security”?
I totally share the noble Lord’s frustration about this, and totally align with his remarks about the People’s Republic of China. On the awful human rights abuses going on there, particularly the treatment of the Uighur people, there is no difference between us. Unfortunately, this is a quasi-judicial decision that will be taken by the Business Secretary under the powers granted to him by the National Security and Investment Act, which many of us debated at great length in this House. I cannot comment on the details of a quasi-judicial decision, or on national security assessments. I apologise to the noble Lord, but that is the position.
I totally share the noble Lord’s frustration about this, and totally align with his remarks about the People’s Republic of China. On the awful human rights abuses going on there, particularly the treatment of the Uighur people, there is no difference between us. Unfortunately, this is a quasi-judicial decision that will be taken by the Business Secretary under the powers granted to him by the National Security and Investment Act, which many of us debated at great length in this House. I cannot comment on the details of a quasi-judicial decision, or on national security assessments. I apologise to the noble Lord, but that is the position.
I totally share the noble Lord’s frustration about this, and totally align with his remarks about the People’s Republic of China. On the awful human rights abuses going on there, particularly the treatment of the Uighur people, there is no difference between us. Unfortunately, this is a quasi-judicial decision that will be taken by the Business Secretary under the powers granted to him by the National Security and Investment Act, which many of us debated at great length in this House. I cannot comment on the details of a quasi-judicial decision, or on national security assessments. I apologise to the noble Lord, but that is the position.
My Lords, this about the United Kingdom’s biggest producer of microchips and semiconductors; it is about national resilience and whether or not we wish to become a wholly owned subsidiary of the People’s Republic of China, which has been accused of genocide by Elizabeth Truss, our Foreign Secretary. What can the Minister tell us, for instance, about the value of contracts that his own department has had, or that the Ministry of Defence, perhaps more particularly, has had, with Newport Wafer Fab? What is the value of those contracts, and will the departments become customers of the People’s Republic of China, should this deal go ahead? Why are we not giving consideration to, and why will he not comment on, the remarks of Ciaran Martin, the former head of the National Cyber Security Centre, who said that there are “very real concerns” about the buyout and that it poses a greater threat than allowing Huawei to build the United Kingdom’s 5G network; and this week’s statement by the Foreign Affairs Committee in another place, that
“it potentially compromises national security”?
My Lords, the House of Commons Foreign Affairs Committee found no evidence to suggest that a review into the acquisition of Newport Wafer Fab had taken place, yet Politico reports that the Government’s National Security Adviser concluded that there were not enough security concerns to block it. Can the Government confirm, on record, whether the review that was promised by the Prime Minister took place or not?
My Lords, the House of Commons Foreign Affairs Committee found no evidence to suggest that a review into the acquisition of Newport Wafer Fab had taken place, yet Politico reports that the Government’s National Security Adviser concluded that there were not enough security concerns to block it. Can the Government confirm, on record, whether the review that was promised by the Prime Minister took place or not?
I can confirm that the review is taking place.
I can confirm that the review is taking place.
I can confirm that the review is taking place.
My Lords, the House of Commons Foreign Affairs Committee found no evidence to suggest that a review into the acquisition of Newport Wafer Fab had taken place, yet Politico reports that the Government’s National Security Adviser concluded that there were not enough security concerns to block it. Can the Government confirm, on record, whether the review that was promised by the Prime Minister took place or not?
My Lords, what does my noble friend make of the remarks by the adviser to the Board of Trade, Tony Abbott, that the
sale of Newport Wafer Fab would not go ahead were it happening in Australia? What discussions have been had with him, and with our allies in the Five Eyes network?
My Lords, what does my noble friend make of the remarks by the adviser to the Board of Trade, Tony Abbott, that the
sale of Newport Wafer Fab would not go ahead were it happening in Australia? What discussions have been had with him, and with our allies in the Five Eyes network?
What would happen in Australia is a matter for the Australian Government. Tony Abbott is a member of the Board of Trade, and of course we value his insight and opinions, but this is a quasi-judicial decision that will be taken in the interests of the United Kingdom by the Business Secretary.
What would happen in Australia is a matter for the Australian Government. Tony Abbott is a member of the Board of Trade, and of course we value his insight and opinions, but this is a quasi-judicial decision that will be taken in the interests of the United Kingdom by the Business Secretary.
What would happen in Australia is a matter for the Australian Government. Tony Abbott is a member of the Board of Trade, and of course we value his insight and opinions, but this is a quasi-judicial decision that will be taken in the interests of the United Kingdom by the Business Secretary.
My Lords, what does my noble friend make of the remarks by the adviser to the Board of Trade, Tony Abbott, that the
sale of Newport Wafer Fab would not go ahead were it happening in Australia? What discussions have been had with him, and with our allies in the Five Eyes network?
The Minister will know that trade with China over the last few years has doubled, but that doubling has occurred because we now import £40 billion more than we export. This trade deficit is the biggest in this country’s history—with any country. We are now dependent in many sectors on imports from China, while at the same time, imports and exports with our closest trading partners have declined dramatically. Why does the Minister think that is the case?
The Minister will know that trade with China over the last few years has doubled, but that doubling has occurred because we now import £40 billion more than we export. This trade deficit is the biggest in this country’s history—with any country. We are now dependent in many sectors on imports from China, while at the same time, imports and exports with our closest trading partners have declined dramatically. Why does the Minister think that is the case?
I suspect there are a number of different reasons for that, particularly the importation of consumer goods. Globalisation and imports from China of consumer goods, consumables, et cetera, are a good thing in terms of global trade, but we have to be wary of dealing with companies from the People’s Republic of China. When it comes to matters of national security, we are incredibly vigilant. The NSI Act gave us new powers in this area, and we will not hesitate to act on anything that threatens the UK’s national security.