Thank you. Let me turn to the questions posed by my noble friend Baroness Stowell. She asked when we should expect to see the regulations relating to online news. We will shortly consult on expanding the existing media measures regime and the foreign state ownership provisions to include online news websites. That will enable us to make changes which ensure that online news, whether from an established newspaper group or an online publisher, is covered by the media regime and the new measures we are introducing for foreign state media ownership.
My noble friend is right about civil servants’ ability to carry on working even during the election period. Judging from the activity in my private office, I can certainly say that they are already springing into action on a number of fronts in the best traditions of the Civil Service. Work will of course continue as it always does, notwithstanding an election. This is an opportunity for me to thank the officials who have been working on the Bill and who will continue to work on these areas—rather hastily—over the next few days, but also more broadly on an ongoing basis in the way we have set out.
My noble friend mentioned the review of media ownership rules. I confirm that Ofcom can look at whatever it would like to in its review of the rules. The Secretary of State does not have to issue instructions to Ofcom to do so. I am happy to clarify that and, I hope, assist with some of the confusion which my noble friend has pointed out.
On the timing of regulations for what we termed the “carve-out”, as my noble friend knows, we are currently undertaking a consultation on proposed regulations to follow the Digital Markets, Competition and Consumers Bill to ensure that the drafting achieves our stated policy objectives in terms of the partial carve- out of small minority stakes held by sovereign wealth funds. The regulations will be finalised when the consultation concludes. We hope then to align the timeline for the introduction of these regulations with the Digital Markets, Competition and Consumers Bill.