The British government is set to roll out stricter rules on foreign ownership and takeover of businesses in the United Kingdom, particularly, in what are considered "strategically sensitive industries" that could fall under the influence of another country.
"These proposals will ensure we have the appropriate safeguards to protect our national security whilst ensuring our economy remains unashamedly pro-business and open to high levels of foreign investment in the future," Industry Secretary Greg Clark said in conjunction with the announcement of the new rules.
Business Secretary Greg Clark gives evidence to @LordsEconCom this afternoon on energy policy. We wrote this in January about foreign ownership of utilities, including some energy companies: https://t.co/xtDpzAQ1XE
— Full Fact (@FullFact) February 20, 2018
The measures being introduced by the UK coincide with those already being pursued in the United States, France, Germany and Australia, primarily under the pretence of curtailing Chinese influence and its alleged theft of intellectual property and advanced technology.
Theresa May's Conservative government has sought to pursue a Brexit that dramatically liberalizes the business and investment climate in the United Kingdom once it leaves the European Union, seeking particularly to attract investment from emerging markets, such as China, and from already close partners such as the United States with which it is seeking a free trade agreement.
