THE UK is set to introduce new plans that give more powers given to ministers to stop deals that risk national security.
According to a government announcement on Wednesday, November 11, Britain will intervene to block takeovers and corporate deals that threaten national security, in a new bill published today.
The National Security and Investment Bill details the proposed new laws in potentially sensitive sectors such as defence and energy, that will give ministers new powers to scrutinise and intervene in “malicious” foreign investment.
These new laws would address long-standing concerns that some deals could compromise security or vital infrastructure.
“Hostile actors should be in no doubt – there is no back door into the UK,” said business minister Alok Sharma.
“This bill will mean that we can continue to welcome job-creating investment to our shores, while shutting out those who could threaten the safety of the British people.”
The new national security bill will ask companies to seek approval for any potential deal – from takeovers to asset and intellectual property sales – involving a range of sectors, such as defence energy and transport or artificial intelligence and encryption.
The laws would explicitly state that national security is the only ground for intervention and companies that failed to comply could be fined, and executives could be jailed.
Thank you for taking the time to read this news article “UK to stop deals that risk national security”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.
Euro Weekly News is delighted to continue be able to bring you a range of News from around Spain in English and Global News live as it happens.
Euro Weekly News doesn’t cost you anything but your internet connection. Whether it’s bringing you the local Spanish news or the International news today, we’ve got you covered!
Euro Weekly News, the leading free local and national newspaper in Spain, the people’s paper, we lead others follow!