Life Sciences Industrial Strategy Debate
Full Debate: Read Full DebateLord Crisp
Main Page: Lord Crisp (Crossbench - Life peer)Department Debates - View all Lord Crisp's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 10 months ago)
Lords ChamberTo 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.
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.
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?
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.