Government Pledges Funds For UK Life Sciences
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The UK government has announced a £200 million cash injection for the country’s life sciences sector. In a statement, the government explained that the aim is for the money to help “mobilise £400 million of private investment to allow science companies to scale in the UK,” PMLive reported.
It also acknowledged that the life sciences sector is one of the most productive in the UK and contributes 250,000 of the highest value jobs in the nation.
Speaking about the funding boost, Boris Johnson explained that much ground-breaking research has been carried out in the UK throughout history in the field of life sciences. His aim is for this research to be developed and commercialised in the UK, rather than overseas.
“This is part of my vision to have a vibrant post-Brexit economy fuelled by science and technology. The life sciences is a key component of this and we must continue to implement the life sciences industrial strategy,” the prime minister asserted.
Alongside the new funding from the government, the British Business Bank is also set to provide a boost to the sector. It unveiled a new dedicated fund that’s specifically to support the growth and development of UK-based health and life sciences firms.
Brain Tumour Research was one of the organisations that welcomed the announcement. However, it did point out that at least some of the funding could simply be used to replace the money from the European Investment Bank that will disappear once the UK exits the EU.
It also noted that the government’s focus on life sciences organisations seeking funding from external sources is “interesting” and something that the charity already advocates and encourages its Centres of Excellence to do.
Speaking to the BBC recently, a former special adviser to three UK science ministers said that Dominic Cummings, Mr Johnson’s chief adviser, is the main reason behind the government making science a priority.
Stian Westlake told the news provider that, after Brexit, science and technology funding is Mr Cummings’ priority. However, this isn’t the first time that the country’s life sciences industry has been the focus of government support in recent years.
Mr Johnson’s announcement is following on from high levels of investment promised by his predecessors. Since 2010, successive governments have promised an additional £7 billion for UK research and development activities by 2022.
Professor James Wilsdon, of Sheffield University, told the news provider that the Johnson government seems to be more enthusiastic about supporting the life sciences sector than previous governments.
However, he pointed out that UK universities and researchers currently have access to billions, as well as access to other research, under the current arrangement with the EU. That’s something that’s expected to change with Brexit, particularly if the UK leaves with no deal in place.
If access to that funding dries up, the money from the government will become all the more important to the sector.
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