UK Modern Industrial Strategy

Tim Roca Excerpts

Monday 23rd June 2025 Commons Chamber

[Jonathan Reynolds]

I absolutely recognise that, in all the initiatives we are putting forward today that apply across the UK, every area deserves its fair share of the funding. Of course, many of the policies that I and the Department are responsible for disproportionately benefit Wales. Under the clean steel fund, the money going to Port Talbot is much more than would be allocated to it by population share. That is because there are brilliant strengths in Wales that I want to support. In this strategy —whether around aerospace and Airbus, or automotive and Toyota, or the creative industries, professional and business services, or financial services—there is so much that will benefit Wales because of the brilliant strengths in Wales. That is something to be very optimistic about, and I would be very confident about what this strategy means for Wales, while, of course, respecting the devolution settlement.

[Tim Roca (Macclesfield) (Lab)]

I congratulate my right hon. Friend. With over 5,000 Macclesfield jobs dependent on AstraZeneca, I welcome the health data research centre, the slashing of trial times and the focus on life sciences. Will he set out how he is supporting Department of Health and Social Care colleagues to further deliver for life sciences by finalising a realistic settlement on the commercial agreement over the pricing of medicine, and VPAG—the voluntary scheme for branded medicines pricing, access and growth—in particular, as that is very important to my constituents?

[Jonathan Reynolds]

I welcome my hon. Friend’s question; he is right that VPAG is significant to the life sciences sector plan and that the industry is looking for resolution on it. The life sciences sector plan will be formally launched by Cabinet colleagues to coincide with the anniversary of the foundation of the NHS. Talks with industry are ongoing and we are trying to find a settlement, which I believe is possible. We should all recognise the economic benefits of the sector for his constituency, which he carefully outlined.