Life Sciences: Government Assistance

(asked on 14th June 2023) - View Source

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.


Answered by
Gareth Davies Portrait
Gareth Davies
Exchequer Secretary (HM Treasury)
This question was answered on 20th June 2023

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.

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