Extracts from Parliamentary proceedings: Rolls-Royce - Nov 17
Wednesday, 18 November 2020 08:15
Extract from second reading (Commons) of the National Security and
Investment Bill Tim Loughton (East Worthing and Shoreham)
(Con):...Where is the parliamentary scrutiny role in all this?
Where is the appeal mechanism if no call-in is triggered? This is a
point that not many other Members have mentioned, but does the Bill
leave too many of our early-phase innovation companies exposed to
being gobbled up by foreign super-giants that can take advantage of
almost unlimited capital and currency...Request free trial
Extract from second
reading (Commons) of the National Security and Investment
Bill
(East
Worthing and Shoreham) (Con):...Where is the parliamentary scrutiny
role in all this? Where is the appeal mechanism if no call-in is
triggered? This is a point that not many other Members have
mentioned, but does the Bill leave too many of our early-phase
innovation companies exposed to being gobbled up by foreign
super-giants that can take advantage of almost unlimited capital
and currency swings in their favour? I remember the old days in the
City when the Government had golden shares in companies such as
Cable & Wireless, British Aerospace and Plessey. People had to
make a foreign ownership declaration to own shares in Peninsular
and Oriental, and they were only able to own deferred stock. The
Government still have special shares in British Airways and
Rolls-Royce for example, but it is hard
to think of the last time the UK Government blocked a takeover or
major asset acquisition of a company in which they held a golden
share. Are they actually that golden?
To read the whole debate, CLICK
HERE
Extract from Westminster
Hall debate on Covid-19: Employment Rights
(Birkenhead) (Lab):...Shop stewards have fought hard to
keep their members safe in the workplace. Members have gone on
strike to defend highly skilled, dignified work at sites such as
Rolls-Royce Barnoldswick. The trade
union movement played a pivotal role in the introduction of the
furlough scheme in March, as well as securing its extension last
month, but too many employers regard the unions, to quote a former
Prime Minister, as the “enemy within”. The scandalous practice of
fire and rehire is a glaring example of why we need to overhaul the
employment laws system. The Government must now acknowledge the
central role that the trade unions have to play in forging
Britain’s economic recovery. The Government have already withdrawn
their knee-jerk reaction to banning socially distant picketing
during strikes, but only as a result of a legal challenge by Unite
the Union. Now they must follow that up. The Trade Union Act 2016
must go for a start, and a new charter must ensure that when bad
employers use bad practices and mistreat their staff, the unions
have the means and legal right to fight back...
To read the whole debate, CLICK
HERE
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