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To ask Her Majesty's Government whether (1) ministers, or (2) senior civil servants, have met either (a) Mr Lex Greensill, or (b) representatives of Greensill Capital or SoftBank, since 1 January; and if so, (i) who attended the meeting, and (ii) on what dates were the meetings held.
To ask Her Majesty's Government whether (1) ministers, or (2) senior civil servants, have met either (a) Mr Lex Greensill, or (b) representatives of Greensill Capital or SoftBank, since 1 January; and if so, (i) who attended the meeting, and (ii) on what dates were the meetings held.
Senior civil servants and ministers routinely meet and correspond with a range of private sector stakeholders. Transparency releases are published on a quarterly basis, and are currently publicly available for Senior Official and Ministerial meetings up to and including September 2020, which is in line with normal reporting timelines on disclosures.
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of holding discussions with (a) Softbank and Arm on the Softbank/Arm deal of 2016 and (b) Nvidia and Arm on the Softbank/Nvidia Arm deal of 2020.
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of holding discussions with (a) Softbank and Arm on the Softbank/Arm deal of 2016 and (b) Nvidia and Arm on the Softbank/Nvidia Arm deal of 2020.
The Department for Digital, Culture, Media & Sport is leading engagement with the parties involved, all queries should be directed to the DCMS.
Information about ministerial meetings can be found at gov.uk. It would be inappropriate to divulge further detail at this stage.
To ask the Secretary of State for Digital, Culture, Media and Sport, whether he is seeking a legally binding guarantee to keep Arm as a separate entity with a separate business model that is not subject to US intellectual property provisions after Arm is sold from Softbank to Nvidia.
To ask the Secretary of State for Digital, Culture, Media and Sport, whether he is seeking a legally binding guarantee to keep Arm as a separate entity with a separate business model that is not subject to US intellectual property provisions after Arm is sold from Softbank to Nvidia.
As provided in previous parliamentary responses, ARM is an important part of the UK's tech sector and makes a significant contribution to the UK economy. While acquisitions are primarily a commercial matter for the parties concerned, the Government monitors these closely. When a takeover may have a significant impact on the UK we will not hesitate to investigate further and take action. We are scrutinising the deal carefully to understand its impact on the UK. The Enterprise Act 2002 allows the government to call in transactions such as this. We will consider if and when it would be appropriate to do so.
To ask the Secretary of State for Digital, Culture, Media and Sport, whether he is seeking a legally binding exemption from Export Administration Regulations or Office of Foreign Assets Control regulations for the sale of ARM from Softbank to Nvidia.
To ask the Secretary of State for Digital, Culture, Media and Sport, whether he is seeking a legally binding exemption from Export Administration Regulations or Office of Foreign Assets Control regulations for the sale of ARM from Softbank to Nvidia.
As provided in previous parliamentary responses, ARM is an important part of the UK's tech sector and makes a significant contribution to the UK economy. While acquisitions are primarily a commercial matter for the parties concerned, the Government monitors these closely. When a takeover may have a significant impact on the UK we will not hesitate to investigate further and take action. We are scrutinising the deal carefully to understand its impact on the UK. The Enterprise Act 2002 allows the government to call in transactions such as this. We will consider if and when it would be appropriate to do so.
To ask the Secretary of State for Business, Energy and Industrial Strategy, on how many occasions he and his Department have had discussions with (a) Nvidia and (b) Arm on the sale of Arm from Softbank to Nvidia.
To ask the Secretary of State for Business, Energy and Industrial Strategy, on how many occasions he and his Department have had discussions with (a) Nvidia and (b) Arm on the sale of Arm from Softbank to Nvidia.
Departments publish quarterly details of Ministers’ meetings with external organisations on GOV.UK. Details for the Department for Business, Energy and Industrial Strategy are available at: https://www.gov.uk/government/collections/beis-ministerial-gifts-hospitality-travel-and-meetings.
The latest published data covers January to March 2020. Data for April to June 2020 will be published in due course.
To ask the Secretary of State for Digital, Culture, Media and Sport, on how many occasions he and his Department have had discussions with (a) Nvidia and (b) Arm on the sale of Arm from Softbank to Nvidia.
To ask the Secretary of State for Digital, Culture, Media and Sport, on how many occasions he and his Department have had discussions with (a) Nvidia and (b) Arm on the sale of Arm from Softbank to Nvidia.
Ministers and officials have regular meetings and discussions with a wide range of stakeholders, on a variety of issues. Details of Ministerial meetings are published quarterly on the Gov.uk website.
To ask the Secretary of State for Digital, Culture, Media and Sport, what assessment his Department has made of the national security implications of the Nvidia/Softbank Arm deal.
To ask the Secretary of State for Digital, Culture, Media and Sport, what assessment his Department has made of the national security implications of the Nvidia/Softbank Arm deal.
Ministers have regular meetings and discussions with their ministerial colleagues, on a range of issues. Details of Ministerial meetings are published quarterly on the Gov.uk website.
As you would expect, it would not be appropriate to comment on any national security concerns we may or may not have. However, we will be scrutinising the deal in close detail.
To ask the Secretary of State for Digital, Culture, Media and Sport, if he will refer the Nvidia / SoftBank Arm deal to the Competition and Markets Authority under the 2002 Enterprise Act on national security grounds.
To ask the Secretary of State for Digital, Culture, Media and Sport, if he will refer the Nvidia / SoftBank Arm deal to the Competition and Markets Authority under the 2002 Enterprise Act on national security grounds.
The Enterprise Act 2002 allows the government to call in transactions such as this. We will consider if and when it would be appropriate to do so.
I will in a moment. I will make a bit of progress, then I will be happy to take the hon. Gentleman’s questions.
The Enterprise Act 2002 allows the Government to call in transactions on four public interest grounds: financial stability, national security, media plurality and public health emergencies. When a...
I will in a moment. I will make a bit of progress, then I will be happy to take the hon. Gentleman’s questions.
The Enterprise Act 2002 allows the Government to call in transactions on four public interest grounds: financial stability, national security, media plurality and public health emergencies. When a...
I think that that would depend on which aspect, of the four that are under consideration, the Secretary of State was looking at.
As the hon. Member for Cambridge and others know, the UK is a global leader in tech, with a proud history of innovation and invention. Our world-leading universities,...
I think that that would depend on which aspect, of the four that are under consideration, the Secretary of State was looking at.
As the hon. Member for Cambridge and others know, the UK is a global leader in tech, with a proud history of innovation and invention. Our world-leading universities,...
Agreed to on question.
Agreed to on question.
Earlier this evening, BBC Look East reported that this was a debate worth waiting up for, so we surely must not disappoint. I am very grateful for the opportunity to raise an issue vital to my constituency, but also important for the future of the wider UK economy. I declare...
Earlier this evening, BBC Look East reported that this was a debate worth waiting up for, so we surely must not disappoint. I am very grateful for the opportunity to raise an issue vital to my constituency, but also important for the future of the wider UK economy. I declare...
First, I congratulate the hon. Gentleman on securing this Adjournment debate. I share his concern, as I have a number of high-tech and modern manufacturing companies in my constituency. Does he agree that the proposed sale will be against the national interest and the UK’s ambitions to be a European...
First, I congratulate the hon. Gentleman on securing this Adjournment debate. I share his concern, as I have a number of high-tech and modern manufacturing companies in my constituency. Does he agree that the proposed sale will be against the national interest and the UK’s ambitions to be a European...
The hon. Gentleman anticipates my arguments, because there can be little doubt that this home-grown tech star is a great national asset for the country. Back in 2016, alongside many in Cambridge and across the UK tech sector, I was hugely disappointed to see ARM sold to the Japanese conglomerate...
The hon. Gentleman anticipates my arguments, because there can be little doubt that this home-grown tech star is a great national asset for the country. Back in 2016, alongside many in Cambridge and across the UK tech sector, I was hugely disappointed to see ARM sold to the Japanese conglomerate...
I thank my hon. Friend for securing this important debate. Does he agree with me that in assessing the risks of the takeover bid, we need to understand the possible repercussions for British jobs and industry if trade sanctions are put in place by President Trump, for example, as the...
I thank my hon. Friend for securing this important debate. Does he agree with me that in assessing the risks of the takeover bid, we need to understand the possible repercussions for British jobs and industry if trade sanctions are put in place by President Trump, for example, as the...
I thank my hon. Friend the Chair of the Business, Energy and Industrial Strategy Committee. He makes an important point that I will come on to, but I return to the Government’s position, because I find their silence slightly ominous. It has only been breached by briefings to selected journalists...
I thank my hon. Friend the Chair of the Business, Energy and Industrial Strategy Committee. He makes an important point that I will come on to, but I return to the Government’s position, because I find their silence slightly ominous. It has only been breached by briefings to selected journalists...
rose—
rose—
Only of one other Member.
Only of one other Member.
I am happy.
I am happy.
Thank you, Mr Speaker. I thank the Minister and I congratulate the hon. Member for Cambridge (Daniel Zeichner) on securing this debate on a subject that is important to his constituents and to all of us. I also congratulate everybody associated with ARM, which is a great British success story...
Thank you, Mr Speaker. I thank the Minister and I congratulate the hon. Member for Cambridge (Daniel Zeichner) on securing this debate on a subject that is important to his constituents and to all of us. I also congratulate everybody associated with ARM, which is a great British success story...