Protect life sciences in upcoming Budget – New APPG urges Chancellor
The newly-formed All-Party Parliamentary Group (APPG) for Life Sciences has written to Chancellor of the Exchequer Rachel Jane Reeves, urging her to protect
and promote the life sciences sector in the government’s first Budget.
The group, which includes MPs and peers, convened for its first meeting in Parliament on Tuesday (15 October) to discuss the steps the Labour government should take
to ensure that the UK remains a global leader in life sciences research and commercialisation.
Following the meeting, the group sent a letter to the Chancellor, expressing their support for the Labour Party’s life sciences strategy, A Prescription for Growth,
which was published before the general election.
They urged the Chancellor to maintain government funding for life sciences research and manufacturing, as well as the tax reliefs that encourage investment, in the
Budget set for 30 October.
Kit Malthouse MP, chair of the APPG, emphasised the potential of the life sciences sector, saying, “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.