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Volume 457: debated on Wednesday 7 March 2007

To ask the Chancellor of the Exchequer what assessment he has made of the extent to which companies based in other European countries have received (a) financial and (b) other assistance from their respective Governments to mount bids for the takeover of UK-based companies. (121826)

European Community law enshrines the right of free and open competition between member states, which has enabled the UK to take advantage of increasing global trade, and benefit from new ideas and management techniques. The European Commission monitors and is responsible for tackling measures and Government support that distort or threaten to distort European competition. The UK actively supports the Commission’s work in eliminating inefficient state subsidies.