24 April 2012
Speaking during Treasury Questions, George Freeman welcomes significant new investment in manufacturing as a clear sign that the Budget for business is working.
George Freeman (Mid Norfolk) (Con): Will the Chancellor join me in welcoming the announcement by GlaxoSmithKline of a £0.5 billion investment in advanced manufacturing in the north of England? Taken together with the £800 million investment by Tata in Wales and the IMF’s upgrade of our growth forecast by nearly 20%, does this not suggest that the Budget for business is working?
Mr Osborne: My hon. Friend is right to point to the GSK investment. The chief executive of GSK explicitly credited the falls in corporation tax and the patent box for that decision. We have also had the investment from Jaguar Land Rover in the west midlands, the great news of Nissan’s investment in Sunderland and steel-making has returned to Redcar.
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George Freeman (Mid Norfolk) (Con): Will the Chancellor join me in welcoming the announcement by GlaxoSmithKline of a £0.5 billion investment in advanced manufacturing in the north of England? Taken together with the £800 million investment by Tata in Wales and the IMF’s upgrade of our growth forecast by nearly 20%, does this not suggest that the Budget for business is working?
Mr Osborne: My hon. Friend is right to point to the GSK investment. The chief executive of GSK explicitly credited the falls in corporation tax and the patent box for that decision. We have also had the investment from Jaguar Land Rover in the west midlands, the great news of Nissan’s investment in Sunderland and steel-making has returned to Redcar.
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