To ask the Secretary of State for Health and Social Care, if she will make an assessment of the potential merits of introducing financial incentives for businesses to manufacture medicines in the UK.
Answered on
5 February 2024
In 2021, the Government’s Life Sciences Vision set out our ambition to create a globally competitive environment for Life Sciences manufacturing investments. To help meet these ambitions, the Government has launched three capital grant schemes, with up to £118 million of grant funding allocated. To date, these schemes have delivered £416 million of public and private investment and helped create or secure over 1,400 jobs. We anticipate announcing the next round of grant recipients over spring 2024.
In 2023, the Government announced a further £520 million of funding for Life Sciences manufacturing. This funding, available from 2025 over five years, will help to ensure that the United Kingdom remains a world leading location for Life Sciences manufacturing investments.