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Britain, a client state in composite ownership: economically, politically and militarily subordinate

KC sent a link to yesterday’s article by Allister Heath slating France for its ‘protectionist policies’.

takeover cartoonHeath cited a US approach a few years ago for Danone, a very successful French food company, which soon collapsed.

Several other takeovers were blocked by the French government which passed a law to protect companies in “strategic industries”, from takeover.

Heath states that the UK gains from its openness, examples being those of Tata, a major employer in the UK, Korea’s Samsung and now the Turkish Yildiz takeover.

He admonishes British workers but makes no reference to the actual and potential social, economic and security dangers of these takeovers

Heath: “British workers have got used to working for US, European or Japanese employers; they must now embrace full globalisation and be prepared to carve out careers for themselves within a new generation of emerging market corporate giants”.

Has the Office of Fair Trading (OFT) been closed before it could update its little publicised 2010 report?

This found that 40% of infrastructure assets in the energy, water, transport, and communication sectors were already owned by foreign investors.

The OFT was closed on 1st April 2014, with its responsibilities passing to a number of different organisations including the Competition and Markets Authority (CMA) and the Financial Conduct Authority.

takeover cartoon graphic

In Utility Week News at the time the report was published, barrister Roger Barnard, former head of regulatory law at EDF Energy, wondered whether any government is able to safeguard the nation’s energy security interests against the potential for political intervention under a commercial guise, whether by Gazprom, Opec, or a sovereign wealth fund, adding:

“Despite what the regulators say, ownership matters”: vulnerable Britain is now largely economically, politically and militarily subordinate.

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