Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, with reference to her Department's news story entitled Chancellor reveals life sciences growth package to fire up economy, published on 25 May 2023, whether the £650 million package for UK life sciences including (a) £121 million to improve commercial clinical trials, (b) £154 million to increase the capacity of the UK’s biological data bank and (c) £250 million to incentivise pension schemes to invest in science and tech firms represents new funding; and if she will make a statement.

This package is supported by new and existing funding. £121 million for clinical trials includes £20 million new funding to establish clinical trial acceleration networks (CTANs). The £154 million upgrade to UK Biobank is new money, previously announced subject to business case as part of a package of R&D infrastructure projects in 2022. The precise form the £250 million government support will take through the Long-Term Investment for Technology and Science (LIFTS) initiative will depend on the viable proposals coming forward through the call for proposals. A Written Ministerial Statement regarding this package was made on 5th June 2023.