Covid-19: Vaccine

Baroness Blackwood of North Oxford Excerpts

Thursday 19th March 2020 Lords Chamber

[Lord Bethell]

The noble Lord, Lord McNicol, is entirely right to focus on the importance of vaccines. The Government are extremely concerned that the entire public have a clear line to having confidence that they can rid themselves of the threat of the virus so that we can all get back to work and normal life. That will not be possible until we have a vaccine. If I may digress for a moment, one consideration is that, for a vaccine to work, it will have to be taken by billions; for that, it must be as safe as houses. I contrast that with the vaccine for Ebola, where the death rate was at nearly 80% and a just-about-good-enough approach could be taken. However, the coronavirus has a relatively low mortality rate and the introduction of an added risk factor into the population is something we can avoid. For those reasons, the development of a vaccine is considered to be at least a year or 18 months off. However, the noble Lord is entirely right that planning for the production of the vaccine, when it is fully developed, is front of mind for the Government.

[Baroness Blackwood of North Oxford (Con)]

My Lords, ever since John Snow discovered the link between the famous London water pump and the cholera outbreak in 1854, UK scientists and innovators have led global efforts to tackle infectious diseases. We should be very proud of that. However, many UK biotechs and healthtechs which are leading the race to fight Covid-19 are loss-leading and will struggle to raise risk capital in the current climate to maintain operations. One very simple intervention the Treasury could make would be to pay R&D tax credits in advance. This would be matched very well to each individual company and could be based simply on their most recent claims. Will the Minister look into this as a matter of urgency?

[Lord Bethell]

My noble friend has an important and exciting idea, and I am grateful to her for communicating it to me in advance of today’s Question. I have already taken the idea to Treasury colleagues. I have not had a formal response, but the idea supports a pressing and important need in the essential life sciences sector and seems to have strong merit. I hope it will go far.