So we\’ve a protectionist as Business Secretary then:
Foreign ownership of British companies could be a \”disadvantage\” to the country over a long period of time, according to Lord Mandelson.
As one of Britain\’s best-known companies, Cadbury, fights off a takeover bid by US food giant Kraft, the business secretary said the country must be \”mindful\” of the potential impact of foreign companies buying up large chunks of UK industry.
\”I am keeping a weather eye on this area, because I have started to become concerned that over a lengthy period of time, certainly not overnight, UK manufacturing could be a loser,\” he was quoted as saying in the Wall Street Journal.
On the one hand, he says that we need more investment in British industry. On the other, that it had better not be any Johnny Foreigner who invests in British industry.
Quite apart from the idiocy of that logic there\’s a second problem.
Who in fuck is he to decide who someone might sell their own private property to? Companies belong to their shareholders. Not to the government and not to the nation. If JC Bamford decided to sell out to Caterpillar then that\’s a decision for the owners of JC Bamford, not for anyone else.
Or do we no longer agree that private property is indeed private?