The House of Commons’ European Scrutiny Committee (Committee) has published its third report of session 2017-19. Among other things the report covers the European Commission’s proposals concerning the screening of foreign direct investment. The Committee shares the Government’s concerns that the Commission’s proposal in its current form could be detrimental to UK interests both at present and in the future. The Committee is particularly concerned at the apparent lack of specified safeguards on the protection of sensitive information required to be shared with Member States and the Commission. In addition, there is a clear danger that the timelines for receiving Member State and Commission comments on live cases run the risk of preventing decisions being taken in an expeditious manner, and of prospective investors being discouraged from doing business in the UK. The Committee also notes the Government’s comments that “a significant number” of other Member States share its concerns.
View House of Commons European Scrutiny Committee –third report of session 2017-19, 5 December 2017