HL Deb 10 April 2000 vol 612 cc11-2WA
Lord Pearson of Rannoch

asked Her Majesty's Government:

Further to the Answers by Baroness Jay of Paddington on 27th March (H.L. Deb., cols. 525–26), how they justify the statements that the proposed Takeovers Directive:

  1. (a) "was not specifically addressed at Lisbon" in view of the second paragraph of point 21 on page 7 of the Presidency Conclusions of the Lisbon European Council; and
  2. (b) "will have to be considered in the broader context of the tax package", and

what is the present state of play of the Takeovers Directive. [HL1785]

Lord Sainsbury of Turville

The proposed Takeovers Directive was not discussed at the Lisbon European Council, although it was agreed to include a reference to it in the Presidency Conclusions because it has been subject to delay. There was general agreement on the text of the directive at a meeting of the Internal Market Council in June 1999, with the exception of one point concerning the application of the directive to Gibraltar. It is one of a number of EU instruments currently delayed on this issue. The issue is the subject of ongoing discussions between Spain and the UK, in consultation with the Government of Gibraltar. The Government do not see a linkage between the Takeovers Directive and any measures on taxation. I hope that this clarifies the position.

Lord Pearson of Rannoch

asked Her Majesty's Government:

What is the present state of play on the Takeovers Directive. [HL1816]

Lord Sainsbury of Turville

There was general agreement on the text of the directive at a meeting of the Internal Market Council in June 1999, with the exception of one point concerning the application of the directive to Gibraltar. It is one of a number of EU instruments currently delayed on this issue. The issue is the subject of ongoing discussions between Spain and the UK, in consultation with the Government of Gibraltar.