Business, Energy and Industrial Strategy Committee
Debate between Rachel Reeves and Martin Whitfield
Rachel Reeves
I am worried about those issues. My hon. Friend knows full well that we have benefited disproportionately from Horizon 2020: 13% of the funds have come to this country, reflecting our fantastic research base in Cardiff, in Leeds and across the UK. It is welcome that the Government have guaranteed those funds until 2020, but there have been no guarantees beyond that. As my hon. Friend knows, research does not work on two or three-year horizons; it works on 10 or 20-year horizons. We need clarity, and the certainty that we will receive that investment in key research on matters such as the HIV vaccine that my hon. Friend mentioned.
Martin Whitfield (East Lothian) (Lab)
The Government speak of a pragmatic approach. Do we not have a parallel interest in the European Medicines Agency, and would it not be sensible to retain some role for the UK within it?
Rachel Reeves
The idea that leaving the European Union is about cutting red tape is absolutely ridiculous. In fact, red tape protects us, and in pharmaceuticals that is absolutely crucial. As for the EMA and the MHRA, we will be replicating something that worked incredibly well. Why create a load of new regulators when we had a set of regulators based here in the UK doing a fantastic job? No one doubts that the EMA was doing a good job, so why replicate it now? It makes no sense.