Oral Answers to Questions

Debate between Lord Willetts and Mark Menzies

Thursday 26th June 2014 Commons Chamber

[Mr Willetts]

A major change is happening in the structure of the life sciences industry, with it moving away from having large, in-house R and D facilities. That trend is happening around the world. We have been particularly successful in this country in making sure that as that happens we promote alternative investment, and we are now seeing—for example, in the facility that Pfizer operated in Kent—significant renewal as new, small businesses come in. Our life sciences strategy is attracting new investment to the UK—£2 billion of it since we launched the strategy.

[Mark Menzies (Fylde) (Con)]

6. What steps he is taking to promote regional growth.