To ask the President of the Board of Trade in what instances it is (a) permissible and (b) her policy for (i) the Government and (ii) local authorities to discriminate against a foreign investor. [35618]

The UK has an open and liberal economy and welcomes foreign investment. However we reserve the right to discriminate on the grounds of the nationality of an investor in the limited circumstances where permitted by law and our treaty commitments, including in sectors such as defence, broadcasting, fishing, marine and air transport, and financial services. Discrimination on the grounds of the nationality of investors is not a factor in local authority decision-making.