Science and Technology Framework
Debate between Michelle Donelan and John Redwood(1 year, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Michelle Donelan
The Minister of State, Department for Science, Innovation and Technology, my hon. Friend the Member for Mid Norfolk (George Freeman), has taken the lead on that, and we are working closely with the Department of Health and Social Care. I agree with the hon. Gentleman that there are challenges that we need to address, and over the coming weeks and months he will see that this is a Government taking action.
John Redwood (Wokingham) (Con)
How will the Government respond to America’s Inflation Reduction Act of 2022, which offers such a wide range of tax breaks, favourable Government contracts and favourable regulation to onshore much more science and technology, and threatens to divert investment from the UK?
Michelle Donelan
It is, of course, important for us to create a favourable economic climate for business to prosper. As for regulation, it will be at the heart of our work. We have already commissioned Sir Patrick Vallance to publish a report on the regulation of emerging technology, which will be published imminently, and we will be doing “deep dives” into how we can get the regulatory framework right in order to support innovation, technology and science that is based in the UK.