As Andrew Witty, CEO of GSK explains, the plan comes are a result of tax breaks on innovation introduced by Chancellor George Osbourne, ‘Because of changes in the UK tax regime, it will be our intention to bring more activity to Britain and take advantage of the situation here and increase our contribution to Britain. If it [corporation tax] is going to come down over the next few years, it will attract us to pay more tax here.’
The global pharma are considering Cumbria, County Durham and two locations in Scotland for their new factory. A decision is expected to be made in May.
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