Question to the Department for Science, Innovation & Technology:

What steps her Department is taking to support investment in the life sciences industry.

The Life Sciences Vision set a strategic goal to make the UK the most attractive location in Europe to start and grow a Life Sciences Business.

This Government is driving the largest increase in public R&D in the UK for a generation – from £15bn a year to £20bn a year in the next three years, and to £22bn a year in 2027.

In March DSIT announced £17m of grant funding from the Life Sciences Innovative Manufacturing Fund (LSIMF), securing £260 million of private investment.

At the Spring Budget the Chancellor announced Capital Allowance reforms which introduced a full expensing 100% first year allowance worth £27 billion over 3 years.