Sir Iain Duncan Smith

Sir Iain Duncan Smith

Conservative — Chingford and Woodford Green

Speaking in the House of Commons on 2 July 2025

Debate

Corporate Businesses and Franchisees: Regulatory Environment

Contribution

I need not detain my right hon. Friend for long, but I very much supported the unions’ position on this, as I thought this was wrong at the time. Without straying into the issues of the bids, we should consider organisations such as CK from China. It now has links with and control over UK Power Networks, Northumbrian Water, Wales and West Utilities, and Eversholt Rail. The network it has now is intriguing, which is hugely around the power and communications networks. All of those are now falling into the hands of conglomerates that have nothing to do with the UK, but that are linked to Governments of a different country. This is the big problem we face: it is not that we do not like big businesses; it is just that so often now they operate from outside our legal empowerment.

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