Oral Answers to Questions

Debate between Chloe Smith and Gary Sambrook

Wednesday 3rd May 2023 Commons Chamber

[Gary Sambrook (Birmingham, Northfield) (Con)]

3. What steps her Department is taking to help the life sciences industry attract private investment.

[The Secretary of State for Science, Innovation and Technology (Chloe Smith)]

The UK’s life sciences sector is key to creating highly skilled jobs across the UK and cementing the UK’s role as a science superpower, as my hon. Friend the Minister for Science, Research and Innovation, a doughty champion of life sciences, has just set out. We have a life sciences vision, which sets out our ambition to develop a globally competitive investment ecosystem in the UK, and we will bring forward further measures to support the sector in the coming weeks. A great example is the life sciences investment programme, a £200 million initiative that is expected to attract at least double that in private investment.

[Gary Sambrook]

Post pandemic, there has been a significant advance in attracting new pharma to the United Kingdom. Will the Secretary of State join me in welcoming the hugely significant partnership with Moderna as a sign of confidence in the United Kingdom? It will bring much-needed jobs and investment to the whole of the UK, and hopefully to Birmingham in particular.

[Chloe Smith]

Yes, I do of course join my hon. Friend in welcoming that investment. As he sets out, our goal is to ensure that the UK is the most attractive environment possible for life sciences investment, and we are doing a range of things to help achieve that. We can see exciting innovations coming into the UK as a result, including one I am very excited about that is due this year: greater personalisation in cancer drugs.