Daniel Zeichner MP today slammed the Government after an exchange in the House of Commons today over the proposed sale of Cambridge based ARM to a US company.
Reports say SoftBank plans to sell the chip company, which is the UK’s highest valued technology company to Nvidia.
Mr Zeichner called on the International Trade minister to ensure “the jewel in our tech crown is not dismembered” but was disappointed by the “lacklustre” repsonse.
Mr Zeichner said: “ARM is a stategic asset, and it would be in the public interest to intervene, not just to save high-tech jobs, but to safeguard ARM’s neutrality from an American company eyeing up the tech.”
“It is simply not good enough for the Government to sit back as the clock ticks down. The minister’s response that we want to create an environment in the UK where all businesses want to work, is menaingless guff. You might think they would come up with something a bit bespoke for a £23 billion company! ARM is iconic and part of a unique ecosystem of tech companies. We need action now.”