Vince Cable speaking in Parliament
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Cable on Pfizer bid: 'UK not tax haven'

6 May 2014 Last updated at 22:21 BST

Business Secretary Vince Cable has told MPs the government will not let Pfizer use the UK as a tax haven.

The move comes after concerns were raised by MPs about the proposed takeover of UK pharmaceutical giant AstraZeneca by its US rival Pfizer.

Mr Cable said: "We see the future of the UK as a knowledge economy, not as a tax haven. Our focus is on what is best for the UK - securing great British science, research and manufacturing jobs and decision-making in the life sciences sector."