Life Sciences Investment

Steve Race Excerpts

Thursday 11th September 2025 Commons Chamber

[Ian Murray]

I am grateful to the hon. Gentleman for raising those points. It is important to lay out to the public and to the House that MSD will continue to employ 1,600 people and be a key part of the life sciences sector. There are many companies that are investing in this country—Moderna, BioNTech, Isomorphic Labs—and in my own constituency, Roslin CT is expanding at such a great pace that it cannot keep up with the amount of space and the wet lab facilities it requires. Those are all the challenges that we have to try and deal with.

I gently say to the hon. Gentleman: the second sentence of his contribution was about the national insurance increases for employers and the fourth was about spending more money on R&D and life sciences. They cannot both be true. If we want to spend money on our priorities—political parties will have different priorities—we have to raise that money. We cannot have it both ways. The message to the industry is: this is the best place in the world to invest. Bring your investment here and this Government back you through an industrial strategy and a life sciences sector plan.

[Steve Race (Exeter) (Lab)]

I welcome the Minister to his place. Exeter has a very strong life sciences and R&D sector and just recently the University of Exeter was awarded £10.5 million from UK Research and Innovation to set up the metamaterials hub—that is real cutting-edge science—which also leveraged extra private sector investment of another £10 million. Does the Minister agree that that sort of investment and commitment to research and development will enable cities such as Exeter to thrive and grow in future?

[Ian Murray]

I pay tribute to my hon. Friend for his work with the university in his constituency in a whole number of areas. All who represent university towns— I do as well—know that there is significant investment going into research and development and the life sciences, because that is the future for this country.

This country is committed to growth, and I assure my hon. Friend that I will do everything I can in this role to ensure that we invest in that. I gently remind the House again that the spending review saw the largest ever settlement for research and development in this country at £86 billion. That says to the industry: we are open for business; come and invest here and put life sciences at the top of that investment.