Pfizer cannot use UK as \\\'tax haven\\\'
Tuesday, 6 May 2014
Business Secretary Vince Cable has told MPs the government will not let Pfizer use the UK as a tax haven and promised to secure British science jobs. The move comes after concerns were raised by MPs about the proposed takeover of UK pharmaceutical giant AstraZeneca by its US rival Pfizer. Mr Cable was called to answer urgent questions in the House of Commons earlier. He said he was "alive" to national interest concerns over the deal. Mr Cable said: "We see the future of the UK as a knowledge economy, not as a tax haven. Our focus is on what is best for the UK - securing great British science, research and manufacturing jobs and decision-making in the life sciences sector." He added the government was committed to "ensuring the UK remained at the forefront of life sciences, research and development", according to a news agency.