A new group of MPs and peers have written to the Chancellor of the Exchequer Rachel Reeves urging her to protect and promote the UK’s world-leading life sciences sector in the government's first Budget.
The call comes from the newly-formed All-Party Parliamentary Group (APPG) for Life Sciences, which held its first meeting in Parliament on Tuesday to discuss what the Labour government must do to ensure the UK remains a powerhouse for life sciences research and commercialisation.
Writing to the Chancellor after the meeting, they welcomed the Labour Party's plan for life sciences published ahead of the general election, called ‘A prescription for growth’, and urged the Chancellor to protect government funding for life sciences research and manufacturing, and the tax reliefs that encourage investment, in the Budget on 30 October.
The new APPG is supported by leading medical research charities and the life sciences industry, and the UK's National Academy for medical sciences. For the first time it provides parliamentarians access to the full breadth of the UK's life sciences ecosystem to discuss driving growth and innovation for the benefit of NHS patients and the UK economy.
Medical research charities invested £1.7 billion in R&D in 2023, and the life sciences industry invested over £9 billion. This supports over 26,000 charity-funded researcher jobs in universities and the NHS, and over 300,000 industry jobs across the UK.
Kit Malthouse MP, chair of the APPG, said: “The Life Sciences sector holds out an incredible promise that the UK can be at the forefront of humanity’s battle with disease and at the same time build a 21st century knowledge-based economy. The All-Party Group embraces every aspect of this exciting sector and we hope it will play a part in maintaining the UK as a science super power.”
The APPG for Life Sciences is supported by the following secretariat: The BioIndustry Association (BIA), the Association of Medical Research Charities (AMRC), Cancer Research UK (CRUK), the Association of the British Pharmaceutical Industry (ABPI), The Academy of Medical Sciences, Versus Arthritis, The British Heart Foundation and the British In Vitro Diagnostic Association (BIVDA).