ICAEW comment on National Security and Investment Bill
Thursday 12 November 2020: Responding to the introduction of the National Security and Investment Bill in the House of Commons yesterday, Michael Izza, ICAEW Chief Executive, said:
“The aims of the National Security and Investment Bill are sound: the existing rules for protecting the public interest in this area date back to the Enterprise Act of 2002 and no longer match today's strategic, economic and technological realities. However the government has a difficult balancing act to perform - subjecting foreign investment to greater scrutiny and challenge while making the UK the best place in the world to do business. The key to achieving this will be the proper resourcing of the proposed new regime, especially the Investment Security Unit. It must have the expertise and the budget to make good decisions, quickly, or it will become a brake on Britain's future success."
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