January 20, 2022

The Catholic Transcript

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The UK is expanding its economic intervention due to national security

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The British government has said it has ratified the National Security and Investment Act (NSI), which gives new powers to companies and investors to intervene in 17 key sectors of the economy.

The law went into effect yesterday (4) and, according to an official statement, is the NSI’s biggest rebellion against the UK national security regime in 20 years. It allows ministers to extend their powers, and authorize them to inspect, supervise, and intervene in acquisitions made by any individual, entity, or investor that may cause harm or harm to the national security of the country.

Previously, the government had certain powers to block deals that could affect elements such as foreign-led acquisitions, economic stability, media diversity and response to the epidemic. However, ministers can now control businesses in a variety of economic areas, including artificial intelligence, robotics, technology, civil nuclear power, quantum technology, transport and defense.

The UK is globally recognized as an attractive place to invest, according to Quasi-Guardiang, Secretary of State for Trade, Energy and Industrial Strategy. “But we have always made it clear that we will not hesitate to intervene where necessary to protect our national security,” Quarteng said.

The expansion of the law came amid controversy over the acquisition of British chip maker ARM by North American multinational Nvidia for approximately $ 54 billion (R $ 306.7 billion), sparking controversy in the United Kingdom.

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