AstraZeneca (Pfizer Bid)

Debate between Vince Cable and David Morris

Tuesday 6th May 2014 Commons Chamber

[Vince Cable]

I am aware that there were very sore feelings about the redundancies at Sandwich. The Government had to mobilise a taskforce to rescue the situation on the ground and it is now quite a successful part of the UK. We accept that there was hurt, but that is not unique to Pfizer. As I said in an earlier answer, a roughly equal number of redundancies has been made by both companies. That is not because of their corporate philosophies, but because their patents have run out and they have not developed the pipeline of new projects that is necessary to sustain growing employment.

[David Morris (Morecambe and Lunesdale) (Con)]

I was interviewed on “The World at One” this afternoon and was asked whether there would be a political gain for the Chairs of the Select Committees. I said that I serve on two Select Committees, both of which have Labour Chairs who are excellent. What disturbs me is that the Leader of the Opposition has gone on the record to say that we must look into the matter. Why has he suddenly said that about this particular company, when takeovers happen all the time in the City?

[Vince Cable]

I was slightly puzzled as to why the Leader of the Opposition made it a party political point that there would be a Select Committee inquiry. As I understand it, Select Committees are the property of the House. I am very happy to engage with either or both of the Committees. Indeed, we have already had extensive discussions with the Business, Innovation and Skills Committee about the legacies of Kraft-Cadbury and the takeover legislation. Those matters were thoroughly inquired into.