Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent steps his Department has taken to help increase international investor confidence in UK science.

The UK is an attractive destination for international investment in R&D with a world-class research and innovation system and skills base. The Innovation Strategy set out the steps Government is taking to create the conditions for businesses – including overseas firms – to invest in UK innovation. Recent investments include Moderna’s commitment to building a new mRNA manufacturing and R&D centre in the UK, in a deal valued at £1 billion

The Growth Plan will help to unlock billions of pounds of additional investment into UK science and technology firms. This includes establishing Investment Zones, expanding R&D tax reliefs and introducing the Long-term Investment for Technology & Science (LIFTS) competition. LIFTS will provide up to £500 million to support new funds designed by institutional investors and world-class fund managers to crowd billions of pounds of private investment into UK science and technology businesses.