Life Sciences Sector

Treasury – in the House of Commons am ar 14 Tachwedd 2023.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Julian Sturdy Julian Sturdy Ceidwadwyr, York Outer

What fiscal steps he is taking to support the growth of the life sciences sector.

Photo of Gareth Davies Gareth Davies The Exchequer Secretary

Life sciences are one of the Chancellor’s key growth priority areas. In May, he announced a significant new policy package, backed by more than £650 million of funding, reaffirming the Government’s commitment to supporting a thriving life sciences industry.

Photo of Julian Sturdy Julian Sturdy Ceidwadwyr, York Outer

I thank my hon. Friend for that answer. Life sciences are incredibly important, so will he focus investment on them in projects such as BioYorkshire on the edge of my constituency, which brings together private, public and academic institutions for huge benefits right across the board?

Photo of Gareth Davies Gareth Davies The Exchequer Secretary

My hon. Friend is absolutely right to highlight the benefits and importance of life sciences to the country. We are genuinely a world leader: I was out in Boston in the United States seeing the other world-leading area for life sciences, and it is not a patch on ours. That is why, as an example, we are looking to support life sciences through the investment zone programme, but, as I said, they are a key priority for the Chancellor as part of his growth agenda.