But with the new amendment, business secretary Kwasi Kwarteng is trying to strike balance to protect British assets without deterring foreign investment.It comes as the government tries to steer the economy out of the UK’s worst recession in three centuries following the pandemic, while bolstering the case for investing in Britain after its departure from the European Union.
LONDON: The UK plans to amend the proposed National Security and Investment law to ease the burden on foreign companies seeking to buy stakes in British assets, amid fears more onerous legislation might deter investors.
Under a proposed government amendment, prospective overseas buyers of UK assets must notify the government if they’re seeking a stake of 25% of more, compared with 15% in the existing draft bill.
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