§ Mr. HoyleTo ask the President of the Board of Trade what assessment she has made of the impact of the Irish Development Agency on the number of pharmaceutical companies leaving the United Kingdom to locate in the Republic of Ireland. [47817]
§ Mr. Ian McCartneyThe factors which cause a company to leave a particular market are often complex and go beyond simply the efforts or effect of an investment body in another market.
I am unaware of any significant number of pharmaceutical companies leaving the UK to locate in the Republic of Ireland, although there have been instances of companies locating new investment projects or switching certain production there. This is a matter for their commercial judgment. However, the UK remains at the forefront of the pharmaceutical industry having the world's fifth largest industry by sales. But we are not complacent: both my Department and the Department of Health are working with the Association of the British Pharmaceutical Industry to ensure that we retain our prominent position.