Telegraph Media Group Ltd: Acquisition - Statement

Part of the debate – in the House of Lords am 7:35 pm ar 1 Mai 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Baroness Stowell of Beeston Baroness Stowell of Beeston Chair, Communications and Digital Committee, Chair, Communications and Digital Committee 7:35, 1 Mai 2024

My Lords, I will pick up on the theme of timescales. I am grateful to my noble friend for the answers he has given to the noble Lords, Lord Bassam and Lord McNally, because they cover some of the issues I wanted to ask about. Could my noble friend also tell us what the expectation is for the Government to bring forward the secondary legislation that covers the carve-out for legitimate indirect foreign state investors, such as sovereign wealth funds? That is important in providing clarity for prospective buyers. This has already been said, but it is worth saying again: in raising this, I am very conscious that, in meeting our essential objective of a sustainable future for our free press, we should ensure that there is a proper channel for inward investment into the media industry. If my noble friend could give an update, that would be helpful.