Commons Sense

House of Commons · Ministers' Questions

Life Sciences: Private Investment

Wednesday 3 May 2023 · 3 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 2 Not answered 0

Key points

  • The UK's life sciences sector aims to develop a globally competitive investment ecosystem with a 200 million initiative expected to attract at least double that amount in private investment.
  • The Secretary of State welcomed the partnership with Moderna as a sign of confidence in the United Kingdom.
  • Kate Bingham's past work on the vaccine taskforce was paid tribute to, while emphasizing the UK's continued aim to ensure leadership in science and life sciences.

Topics (select to filter)

Questions & Answers

Q1 Gary Sambrook
Science & Technology Business & Trade
Context

The life sciences sector is crucial for creating jobs and maintaining the UK's status as a science superpower. Recent efforts have focused on attracting private investment.

Question

What steps her Department is taking to help the life sciences industry attract private investment?

Answer from Chloe Smith

The UK's life sciences sector aims to develop a globally competitive investment ecosystem with a £200 million initiative expected to attract at least double that amount in private investment.

Partly answered

Not addressed: Specific measures and timeline for further support were not detailed

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Q2 Gary Sambrook
Science & Technology
Context

There has been significant progress in attracting new pharma companies to the United Kingdom, including a partnership with Moderna.

Question

Will the Secretary of State join me in welcoming the hugely significant partnership with Moderna as a sign of confidence in the United Kingdom?

Answer from Chloe Smith

Yes, I do join my hon. Friend in welcoming that investment. Our goal is to ensure the UK is the most attractive environment for life sciences investment.

Answered
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Q3 Graham Stringer Lab Blackley and Middleton South
Science & Technology
Context

Concerns were raised by Kate Bingham, the chair of the vaccine taskforce, about civil servants not learning lessons and creating a hostile environment for companies.

Question

Does she know something about science given her position? I would like to believe the story that this country is a life sciences superpower, but I am sure she has noted comments from Kate Bingham in January saying that lessons had not been learned.

Answer from Chloe Smith

I pay tribute to Kate Bingham's past work on the vaccine taskforce. We aim to continue ensuring the UK's leadership in science and life sciences.

Partly answered

Not addressed: Specific lessons learned from the taskforce were not detailed

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