The future of Arm will be debated in Parliament after Cambridge MP Daniel Zeichner secured an adjournment debate in the Commons this Monday 21 September to discuss the controversial sale of the tech giant from Softbank to the US company Nvidia.
The Cambridge MP will press the Minister to secure guarantees over high-skilled jobs and to defend Arm’s neutrality to prevent the company’s tech being used in Trump’s US trade wars.
The Government has the power to refer the takeover to the Competition and Markets Authority and prevent or place conditions on the acquisition of the key Cambridge-based technological asset by a US company. Mr Zeichner also wants the Government to secure an exemption from the USA’s CFIUS rules.
Daniel Zeichner MP said: “The government have been painfully quiet about the acquisition of a strategic national asset by a foreign company so I am pleased to have secured this debate so a minister must to come to the dispatch box to explain themselves.
This is a serious matter and decisons taken will have a big impact on the role of the UK in the production of global technology.
I want to know what action the Government is taking to safeguard ARM’s neutrality from an American company that is eyeing up the tech. If ARM becomes a US subsidiary of a US company, then Trump will gain extraordinary powers over which foreign businesses can use ARM designed chips.
I find it bizarre that the government would want to give away such powers at any time, but particularly ahead of a trade negotiation. We also need guarantees on keeping high-skilled jobs in Cambridge.”