Life Sciences: Finance
(asked on 9th September 2024) - View Source
Question to the Department for Science, Innovation & Technology:
To ask the Secretary of State for Science, Innovation and Technology, with reference to the Autumn Statement 2023, when stakeholders will be able to apply for the £520 million in funding from 2025‑26 to support transformational manufacturing investments in life sciences.
Answered by
Feryal Clark
Parliamentary Under Secretary of State (Department for Science, Innovation and Technology)
The Government is committed to supporting Life Sciences manufacturing to deliver an NHS fit for the future and stimulate economic growth across the UK. It has invested over £405 million to secure vaccine manufacturing through the Vaccine Taskforce and is providing up to £118 million in capital grants to boost UK manufacturing investment.
DSIT is discussing plans to support investment in the sector with the Treasury. The £520 million funding announced in the Autumn Statement for Life Sciences manufacturing is part of these discussions.