John Redwood seeks a new regulation!

This is almost a first – you won’t often see this, amidst the long list of things to repeal.

I do think the Competition authorities in the Uk should make clear that we will not accept take-over bids for UK based companies by sovereign wealth and investment funds. I do not think we should allow national governments to be able to nationalise UK companies and do with them as they wish, especially where Uk buyers have restricted rights and opportunities to buy assets in those countries.

It would be quite easy to amend Competition law or clarify Competition practise, by stating that all such attempted takeovers would be automatically blocked by the Competition authorities as anti competitive.

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  1. APL
    Posted December 11, 2007 at 3:31 pm | Permalink

    JR: "It would be quite easy to amend Competition law or clarify Competition practise,.."

    Sorry John, two words: "European Union". Competition law is the competance of the EU now, you will have to get the agreement of the 25 other (or however many there is now) members before you could amend competition law.

  2. apl
    Posted December 11, 2007 at 8:49 pm | Permalink

    Just so we all know we are owned

  3. Steven_L
    Posted December 11, 2007 at 11:17 pm | Permalink

    I used to think that the Tories biggest weakness was a kind of free-market ideological blindness to this sort of thing.

    I'm glad you said that.

  4. APL
    Posted December 12, 2007 at 10:59 am | Permalink

    JR: "Reply: By Act of Parliament!"

    Excellent reply!

    But what would you do when the European Court of Justice strikes down the act because it is contrary to European Union Law?

    Reply: Legislate in a way which did not lead to that, or cover that point in the legislation by way of amendment to the ECA

  5. Bazman
    Posted December 13, 2007 at 9:43 pm | Permalink

    I remember talking about this years ago and Tory supporters saying that it did not matter who owned what as long as the companies made a profit.
    Think French car companies and how many French cars are on French roads. OK! so there is a few German…! Your point is?

  • About John Redwood

    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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