National Security and Infrastructure Investment Review: Long-term Reform

The Government seeks views from businesses and investors, domestic and foreign, about the long-term reforms that the UK should pursue in order to protect its national security while retaining the open approach to trade and investment that has served us well.

The review sets out a number of different approaches on which Government would welcome respondents’ views. These options are not mutually exclusive – a package of complementary reforms could include some or all of the measures set out below or further suggestions proposed by respondents:

• an expanded version of the ‘call-in’ power, modelled on the existing power within the Enterprise Act, to allow Government to scrutinise a broader range of transactions for national security concerns within a voluntary notification regime;
• a mandatory notification regime for foreign investment into the provision of a focused set of ‘essential functions’ in key parts of the economy; and/or
• the potential extension of mandatory screening to new projects that could reasonably be expected in future to provide essential functions; and/or
• naming specific businesses or assets which would be covered by a mandatory regime, rather than a class of businesses.

This consultation will run for 12 weeks, closing on 9 January 2018.