ABPI response to the Budget

The Chancellor of the Exchequer has delivered his Spring Budget to Parliament.

In response, ABPI Chief Executive Richard Torbett said:

“Today’s Budget placed the life sciences sector at the heart of the Government’s plans for growth.

“The Chancellor has announced welcome support for the MHRA. An increase in long-term funding, measures to speed up approvals for new medicines, and a commitment to increase collaboration with global regulators will all support pharmaceutical companies bringing new medicines to UK patients.

“It is also right that the Government wants the most attractive possible environment for investment. Boosting incentives for R&D focused SMEs, alongside the introduction of ‘full expensing’ and a comprehensive R&D tax credit offer, will help achieve this goal for UK life sciences.

“But to further unlock this potential, it is essential that a new Voluntary Scheme is agreed between industry and Government which will help build on the Chancellor’s vision for a globally competitive, high growth UK.”