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Global Britain Investment Fund: Life Sciences

Question for Department for Business, Energy and Industrial Strategy

UIN 96875, tabled on 4 January 2022

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 4 November 2021 to Question 64605 on Global Britain Investment Fund, what proportion of the Global Britain Investment Fund will be spent on life sciences; over what time period that money will be spent; and if he will publish the funding sources for the Global Britain Investment Fund.

Answered on

13 January 2022

The Global Britain Investment Fund will provide £354m to UK Life Sciences. The funding will be spent over a three-year period from April 2022. HM Treasury aggregates funds from various funding streams to finance the investments announced at Spending Review 2021, including the Global Britain Investment Fund. The individual funding sources for the Global Britain Investment Fund are therefore not known.