Life Sciences Investment Debate
Full Debate: Read Full DebateDepartment: Department for Digital, Culture, Media & Sport
John Glen
Main Page: John Glen (Conservative - Salisbury)Department Debates - View all John Glen's debates with the Department for Digital, Culture, Media & Sport
Life Sciences Investment
John Glen Excerpts(1 day, 13 hours ago)
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Ian Murray
I pay tribute to my hon. Friend for her work, unpaid, at the research institute. It will be good to hear from her about what she sees from inside the sector. She raises, I think, the most important point in any debate about science, research and development and life sciences in particular in this country: we have world-class institutions and companies and they are made so by the world-class scientists and academics that work within them. We should cherish that, we should grow it and we should have more
John Glen (Salisbury) (Con)
At Porton Down in my constituency, there is a hub of life science businesses. I have listened carefully to what the right hon. Gentleman has said, and I recognise the difficult dilemmas that all Governments have in where to focus investment. However, the Minister must surely recognise that the additional cost of employing people, with the additional rights and burdens that that puts on employers—particularly small employers—plus 11 weeks of speculation about further tax increases will not make any sector feel more comfortable about where to invest in this country.
Ian Murray
The right hon. Gentleman was a Treasury Minister, so he understands some of the issues involved here. I would merely point him to the report MSD released to its shareholders for the first quarter, in which it said that it had to divest from $3 billion a year in operating costs—that is a huge part of its operating agenda. It is a geopolitical issue as well as a commercial decision.