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Labour to back Bill protecting British firms
LABOUR is backing a Bill today that would block acquisitions of British businesses from hostile takeovers by overseas firms.
The party is supporting the National Security and Investment Bill, which gives the government stronger powers to intervene in instances where foreign acquisitions threaten national security.
But, unlike the Tories, Labour is pushing for a legal definiton of national security, to reflect “modern threats” and to protect British businesses.
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