Theresa May SAYS:
"If we are going to have an economy that works for everyone, we are going to need to give people more control of their lives. And that means cutting out all the political platitudes about “stakeholder societies” – and doing something radical.
Because as we saw when Cadbury’s – that great Birmingham company – was bought by Kraft, or when AstraZeneca was almost sold to Pfizer, transient shareholders – who are mostly companies investing other people’s money – are not the only people with an interest when firms are sold or close. Workers have a stake, local communities have a stake, and often the whole country has a stake. It is hard to think of an industry of greater strategic importance to Britain than its pharmaceutical industry, and AstraZeneca is one of the jewels in its crown. Yet two years ago the Government almost allowed AstraZeneca to be sold to Pfizer, the US company with a track record of asset stripping and whose self-confessed attraction to the deal was to avoid tax. A proper industrial strategy wouldn’t automatically stop the sale of British firms to foreign ones, but it should be capable of stepping in to defend a sector that is as important as pharmaceuticals is to Britain."
Theressa May DOES:
Allows sale of Global leader in low powered CPU design to Japanese company renowned for asset stripping.
UK Media not interested. Farewell Acorn RISC Machines. We didn't want that GDP revenue anyway.