BIA responds to 2021 Budget

Steve Bates OBE, Chief Executive of the BioIndustry Association (BIA), said: 

"The COVID-19 pandemic has shown the strategic necessity for the UK to have a thriving domestic life sciences and biotech sector. Companies and researchers from across the UK have led in the global effort to develop, manufacture and deploy the COVID-19 vaccines, therapies and diagnostics needed to re-open the global economy. As the Prime Minister made clear last week, this successful public-private partnership is the formula for our country’s prosperity for years to come, a strong and active government investing massively in science and technology, coupled with a dynamic enterprise economy.

“The Chancellor rightly highlighted the UK’s opportunity to grow as a life science superpower as a core part of the future UK economy. For the life sciences sector, today’s Budget launches key reviews and consultations into R&D tax credits and listing regimes for capital markets, as well as new ways to attract entrepreneurs to the UK and for scaling companies to easily attract talent. The BIA looks forward to engaging in the detail of these initiatives to build the optimum environment for innovative life sciences companies to grow. By doing so the Chancellor can anchor high quality jobs in the UK for the next generation. Great life science businesses like Fujifilm and CPI look forward to welcoming the HM Treasury team as neighbours in Darlington.”

ENDS

Notes to Editors

1. For more information please contact Jack Fellows, Communications and Media Manager on [email protected] or 07825942934

2. The BIA’s submission to the Budget can be found here: https://www.bioindustry.org/resource-listing/bia-submission-to-budget-2021-final-pdf.html

About the BIA 

Established over 25 years ago at the infancy of biotechnology, the BioIndustry Association (BIA) is the trade association for innovative life sciences in the UK. Our goal is to secure the UK's position as a global hub and as the best location for innovative research and commercialisation, enabling our world-leading research base to deliver healthcare solutions that can truly make a difference to people's lives.