The incoming Labour government has emphasised its pro-industry credentials, with the life sciences sector an area of focus. In its plan for the sector “A Prescription for Growth”, the party recognises the importance of the sector to the UK economy and the need to take action to sustain and promote it. Specific issues, such as the bureaucracy of the NHS and backlogs in regulatory applications.
The plan sets out a coordinated approach to the National Health Service and the life sciences sector. The plan identified key actions across the following areas:
- Industrial strategy: including strengthening the Office for Life Sciences and bringing responsibility for life sciences and innovation under the direction of the Health Secretary.
- Long-term approach to public R&D funding: 10-year budgets for key institutions and promoting spin-out and scale-up.
- Better use of data, to improve patient care and enhance research, for example through improved use of platforms like the UK Biobank and Genomics England.
- Access to finance: through pension reforms and British Business Bank capital.
- Stable business incentives: through maintaining R&D tax credits, patent box, EIS and VCTs.
- Regulatory improvements, including oversight and strategic direction by a new Regulatory Innovation Office.
- Planning reforms to promote new lab space and clusters.
- Promoting training and skills development both in industry and the NHS.
- Widening participation in clinical research.
- Trade and IP: to include negotiating to remove duplicative or redundant regulatory requirements with trading partners.
The King’s Speech set out some concrete proposals, included planned legislation on digital information that would promote better use of data for research, and allow scientists to seek broad consent for fields of research.
Ministerial appointments include Lord Patrick Vallance as Minister of State for Science, Research and Innovation. Lord Vallance has extensive experience in life sciences research and industry, and recently acted as Chief Scientific Advisor through the COVID-19 pandemic.
It is still early days. However, there is optimism among industry organisations. Richard Torbett, Chief Executive of the Association of the British Pharmaceutical Industry (ABPI), welcomed the plans, saying -
“During its campaign, Labour was right to single out the UK’s life sciences sector as a critical partner for their plans to deliver positive change and economic growth. A strong industry-government partnership will be vital to ensure that we continue to discover breakthrough medical innovation in the UK and ensure NHS patients are among the first people in the world to benefit from the latest medicines and vaccines.”
Industry body OBN indicated that “the early signs are positive” as it looks forward to a sustained period of stability and a pro-investment environment.
The Oxford-Cambridge Supercluster, in a letter to ministers, said that it is “ready to collaborate with Government to realise the immense potential of the Oxford-Cambridge region, and the broader UK scientific ecosystem”. The letter calls for specific actions to support knowledge-intensive industries both in the region and beyond, including improved transport infrastructure, lab space planning reform, spin-out support and R&D incentives.
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