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British Lawmakers Call to Ban China From Buying Financially Fragile UK Defence Companies

MPs want China and Russia barred from defence chain

Call to ban China and Russia from UK defence industry

MPs have called on the Government to stamp out Chinese and Russian involvement in the defence industry.  A defence committee study into foreign connections in the supply chain argued that the Ministry of Defence had permitted takeovers and equipment deals which put national security at risk.  MPs want to stop the MoD purchasing second-hand Chinese equipment after it emerged that Britain had bought two 737 airliners from China to convert into spy planes.  Intervention: MPs want to stop the MoD purchasing second-hand Chinese equipment after it emerged that Britain had bought two 737 airliners from China They demanded the Government lists the countries it considers friendly investors and bar nations which fall outside this definition. 

ALEX BRUMMER: Bailey loses his cool at suggestions he was responsible for London Capital & Finance debacle

ALEX BRUMMER: Bailey loses his cool at suggestions he was responsible for London Capital & Finance debacle Alex Brummer for the Daily Mail © Provided by This Is Money MailOnline logo Andrew Bailey is not easily ruffled. The Bank of England governor has been in the furnace of enough crises to know that the best response is to keep calm and carry on. During his appearance before the Treasury Select Committee to answer questions on Dame Elizabeth Gloster s damming report on the Financial Conduct Authority s faulty policing of the London Capital & Finance (LCF), we saw a different Bailey. The governor was visibly upset and admitted he was very angry at the way in which the Gloster report dealt with the issues of his responsibility and culpability for what had gone wrong at LCF.

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