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Anorak | Saving AstraZeneca From The Filthy Foreigners Only Keep The Toffs Rich And Happy

Saving AstraZeneca From The Filthy Foreigners Only Keep The Toffs Rich And Happy

by | 7th, May 2014

Chancellor George Osborne during a visit to the Macclesfield AstraZeneca site in Cheshire. Picture date: Thursday January 12, 2012.

 

YOU may have noticed in all this talk about whether Pfizer should be allowed to buy AstraZeneca a certain amount of economic nationalism going on. You know, It’s ours, British, don’t let the bastard foreigners have it? That this isn’t in fact true, it’s not British, is obvious, as the Institute of Directors has pointed out:

“It is misleading to present AstraZeneca as some kind of UK national champion. The company is a truly multinational enterprise that was created through the earlier mergers of UK, Swedish and American companies. The majority of its employees are based outside Europe and its shareholders are overwhelmingly foreign institutional investors. It is run by a Frenchman and chaired by a Swede. It is a multinational company active in a global economy.”

I’m more English than that and I haven’t lived in the place for 20 years now.

So what is actually going on when we get guff like this thrown at us ?

But the sight of the Government grovelling to an overseas corporation, seeking to merge with one of our most highly successful science-based companies, is little short of sickening.

Conservative justification for supporting what would be the biggest foreign takeover of a British company is, to my mind, based on short-sighted political point-scoring.

Well, basically what is going on here is that we’ve got a lot more petty nationalist xenophobes than we thought we did. But that’s not all that is happening. AstraZeneca is wise in the ways of political press relations.

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Posted: 7th, May 2014 | In: Money, News Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink