George Osborne told the Today programme this morning that GlaxoSmithKline was creating 1,000 jobs in Britain because of decisions taken in his budget. But the statement from GSK's chief executive, Sir Andrew Witty, makes it clear that the patent box reform was the one that made all the difference.
“The introduction of the patent box has transformed the way in which we view the UK as a location for new investments, ensuring that the medicines of the future will not only be discovered, but can also continue to be made here in Britain. Consequently, we can confirm that we will build GSK's first new UK factory for almost 40 years and that we will make other substantial capital investments in our British manufacturing base.”
As Labour figures have been pointing out on Twitter this morning, the patent box was first proposed in Alistair Darling's budget in 2009.