Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what fiscal steps he is taking to encourage pharmaceutical companies to invest in the UK economy.

At Spring Budget, the Chancellor set out how the government will re-invigorate a culture of enterprise with support for business investment and innovation, including in the pharmaceutical industry. Companies across the life sciences sector will benefit from fiscal policies included in the Budget, such as full expensing of capital expenditure, research and development (R&D) tax relief reform and tax simplification. Government is also focusing on smarter regulation to support innovation, and with £10m extra funding over the next 2 years, the MHRA will maximise its use of Brexit freedoms and accelerate patient access to treatments developed by the sector.