Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has made an assessment of a potential link between (a) the rebate in the Voluntary Scheme for Branded Medicines Pricing and Access and (b) the accompanying Statutory Scheme on the level of foreign direct investment into UK R&D.
The Government is working to better understand the impacts the operation of the current Voluntary Scheme and the accompanying Statutory Scheme on investments in the UK. We are therefore in direct conversations with companies to understand these impacts. The Department for Business, Energy and Industrial Strategy is in close discussions with the Department of Health and Social Care, the Department responsible for the Voluntary Scheme and Statutory Scheme, about the business environment for life sciences and its impact on investment.