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BIVDA respond to election-year Budget

By March 6, 2024No Comments

BIVDA note with interest today’s election-year Budget.

As expected, the Budget was light on impact for the life sciences and medical diagnostic sectors and focussed on election-year issues. Funding £45m into medical research, including £3m ringfenced for cancer, is welcome but relatively low impact. An investment of £650m into the Cambridge Biomedical Campus and a vaccine hub in Speke by AstraZeneca will also benefit the life science sector, but is not systemic change.

Digitising the NHS has been an aspiration for some time but is a non-trivial exercise. The additional £3.5bn to deliver this is good news, but will rely on robust programme management to achieve success. Additional funding to reduce waiting lists needs to include a diagnostics theme and BIVDA will work closely with NHS policy and delivery teams to ensure diagnostics are kept at the heart of this conversation.

Measures to focus investment in Britain are welcome but again light touch.

It is clear that the upcoming election continues to have a significant impact on government thinking, and BIVDA will continue our advocacy work with current, and potential future, governments.

Ben Kemp