Last week, Chancellor Rachel Reeves delivered a significant speech yesterday, outlining her vision for driving growth in the UK economy at BIVDA member Siemens Healthineers‘ facility in Eynsham.
This is a strong endorsement of the life sciences industry, which the Chancellor rightly hailed as world-leading in her address, and has been identified by the government as a key growth sector.
Amidst the headline-grabbing announcement of Heathrow’s expansion came a significant investment pledge for the life sciences ecosystem. The Chancellor stated that the government will invest considerable sums in links between Oxford and Cambridge—home to many of our members— which she claims will add £78bn to the UK economy by 2035.
The funding will aim to build upon the globally-celebrated two prongs of the Golden Triangle and create ‘Europe’s Silicon Valley’. Science Minister Lord Vallance has been appointed as Oxford-Cambridge Innovation Champion.
The life sciences sector remains a jewel in the UK’s crown. While we wholeheartedly welcome this investment, we also acknowledge the geographical diversity of our membership. Ensuring investment reaches life sciences companies across the country, from Oxford and Cambridge to Oban and Cardiff, is key to a strong and resilient economy.
