Life Sciences Industrial Strategy

Debate between Lord Crisp and Lord Prior of Brampton

Monday 23rd October 2017 Lords Chamber

[Lord Crisp]

To ask Her Majesty’s Government what is their response to the life science industrial strategy, published on 30 August, with regard to its findings on making the United Kingdom the best place for life sciences businesses to grow and on collaboration with the National Health Service.

[The Parliamentary Under-Secretary of State, Department for Business, Energy and Industrial Strategy (Lord Prior of Brampton) (Con)]

My Lords, the Government support the life sciences industrial strategy’s ambition to make the UK a global hub for clinical research and medical innovation, and are discussing the recommendations with industry and its key partners to agree a sector deal.

[Lord Crisp (CB)]

I thank the Minister for that helpful reply, and am delighted to know that active discussions are going on. I have two specific questions. First, as the Minister will know, manufacturing in life sciences is the most productive part of the most productive sector of the UK, so what are the Government doing to attract more investment in that area? Secondly, and rather differently, what are the Government’s plans to support start-ups in totally new healthcare businesses?

[Lord Prior of Brampton]

My Lords, manufacturing is extremely important. As the noble Lord says, it is a highly productive sector of the economy. In the first wave of the industrial strategy fund, we are investing £146 million in medicine and vaccine manufacturing. With regard to investing in smaller companies, SMEs, we have a number of schemes that we are introducing, including supporting the AHSNs—the academic health science networks—and setting up innovation exchanges.