Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps he is taking to support the growth of the life sciences sector.
Life sciences is one of my priority growth sectors. In May, the Government announced a bold new policy package backed by over £650m funding, reaffirming the government’s commitment to supporting a thriving life sciences industry.
This follows a number of initiatives announced at Spring Budget that will support the sector, including £10m extra funding for our medicines regulator the MHRA, full expensing of capital expenditure and reforms to R&D tax credits.