BIVDA are proud to support the new All-Party Parliamentary Group for Life Sciences. This newly formed group has just called on the Chancellor to support the UK’s life sciences sector in the upcoming Budget.
Following their inaugural meeting, the group emphasised the importance of protecting government funding and tax reliefs that drive investment in this vital industry. With Labour’s plan, “A Prescription for Growth” and a draft Industrial Strategy on the table, there’s a strong push for policies that will foster innovation and bolster the UK’s position as a global leader in life sciences.
The APPG is supported by eight life science organisations, including BIVDA, spanning industry, charities and a National Academy. In 2023 alone, medical research charities invested £1.7 billion in R&D, while the life sciences industry contributed over £9 billion—supporting countless jobs and advancements in healthcare.
Attendees included former Conservative Science Minister, George Freeman; former Conservative Chairman, Ric Holden; and Labour MP, Sadik Al-Hassan.
Kit Malthouse MP, chair of the APPG, said: “The Life Sciences sector holds out an incredible promise that the UK can be at the forefront of humanity’s battle with disease and at the same time build a 21st century knowledge-based economy. The All-Party Group embraces every aspect of this exciting sector and we hope it will play a part in maintaining the UK as a science super power.”
With our support, the APPG will continue to champion policies that enhance research and commercialisation for the benefit of NHS patients and the UK economy.
