Protect life sciences in upcoming Budget - New APPG urges Chancellor

MPs and peers underscore that the UK’s life sciences sector has incredible potential to become a global hub for cutting-edge, life-saving innovations 

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.

“The All-Party Group embraces every aspect of this exciting sector and we hope it will play a part in maintaining the UK as a science super power.”

Pippa Heylings MP, an APPG officer, highlighted the strength of the UK's life sciences ecosystem, noting its potential to become a world-leading hub for cutting-edge, life-saving innovations.

“Harnessing research, technology, AI and genomics whilst collaborating with healthcare providers, this ecosystem can make a breakthrough contribution to people’s lives and to our economy.

“Boosting late-stage funding and infrastructure capacity are critical steps in achieving this ambition,” she stated.

Sadik Al-Hassan MP, another APPG officer, underscored the importance of the life sciences sector for Britain's future, noting that its development is “an important pillar of Britain’s aspiration to lead the global economy in key sectors and provides high quality employment opportunities across the UK.”

“Funding further development in this sector can provide great value for money to taxpayers,” he said.

Baroness Delyth Morgan of Drefelin, also an APPG officer, expressed her delight to be part of this new group stating that it “brings together key leaders in the life sciences ecosystem to champion the huge benefits for patients and society the sector can bring.”

The new APPG is supported by key industry stakeholders, including:

• The BioIndustry Association (BIA)
• The Association of Medical Research Charities (AMRC)
• Cancer Research UK (CRUK)
• The Association of the British Pharmaceutical Industry (ABPI)
• The Academy of Medical Sciences, Versus Arthritis
• The British Heart Foundation
• The British In Vitro Diagnostic Association (BIVDA)

In 2023, medical research charities invested £1.7 billion in research and development (R&D), while the life sciences industry invested over £9 billion. This funding supports over 26,000 charity-funded researcher jobs in universities and the NHS, as well as over 300,000 industry jobs across the UK.