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 06 July 2008 16:02 BST

Lord Sainsbury leaves government

Friday, 10 Nov 2006 13:17
Lord Sainsbury said his decision had nothing to do with the loans for peerages affair

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Lord Sainsbury has announced he is to step down as science and innovation minister to concentrate on his business interests.

The former supermarket chain chairman has been a key ally of Tony Blair since being appointed in 1998 and is one of the Labour party's biggest donors.

He was questioned by police during the ongoing loans for peerages investigation but cleared of breaching the ministerial code in April over an undeclared £2 million loan.

However, Lord Sainsbury today insisted the police investigation had nothing to do with his resignation.

He said that "after eight enjoyable years as minister of science and innovation in the Department for Trade and Industry, I believe this is the right moment to take up again my business and charitable activities".

"I am proud of what we have achieved in terms of funding properly our world-class scientists and engineers, in improving the rate of innovation and knowledge transfer and in putting science and innovation at the centre of policy-making," he added.

The prime minister today paid tribute to his "valued colleague", who he described as a "huge asset to this government and the country".

"It is in no small part down to him that this country's science base is in better shape than for decades; something of vital importance for this country's future.

"His contribution to government will have a huge impact in future decades and we owe him a real debt of gratitude," Mr Blair concluded.End of story


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