Life Sciences Investment Debate
Full Debate: Read Full DebateDepartment: Department for Digital, Culture, Media & Sport
Tom Gordon
Main Page: Tom Gordon (Liberal Democrat - Harrogate and Knaresborough)Department Debates - View all Tom Gordon's debates with the Department for Digital, Culture, Media & Sport
Life Sciences Investment
Tom Gordon Excerpts(2 days, 3 hours ago)
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Ian Murray
I am very happy to do so. I think that is my third invite already this morning. The question and the invite to Newcastle-under-Lyme demonstrate the thriving life sciences sector all across the country. I can give my hon. Friend an assurance that we intend to back the life sciences sector. Although the decision from MSD in relation to their new building at King’s Cross was incredibly disappointing, the sector is a thriving one, and many companies are investing and growing very quickly.
Tom Gordon (Harrogate and Knaresborough) (LD)
This is just the latest in a series of blows to UK life sciences. Companies have been pulled towards the US with incentives and tariffs, while we have no detailed industrial strategy, an uncompetitive tax regime from the Treasury, and a Department of Health and Social Care that undervalues drug access. When the Government announced their life sciences plan, it fell short of what the industry and the sector expected, so will the Government commit to an updated cross-party refresh and give businesses the stability they need to invest in Britain?
Ian Murray
The hon. Member talks about yet more spending but with no idea of how the revenue would be increased. This Government had to make some incredibly difficult decisions in order to balance the books to give that stability in the economy so that we could invest in R&D, including in the life sciences. The NHS 10-year plan is moving from treatment to prevention, which require medicines; moving from hospital to community, which will require medicines; and moving from analogue to digital, which will enhance and better target medicines for patients. That is just one example of what we are doing in the NHS to improve our life sciences sector. It is a key part of the industrial strategy—one of the eight key sectors—and we intend to back it through the strategy.