BIA submission to the 2020 Labour Economy Business and Trade Commission

The BIA has submitted views to the 2020 Labour Party National Policy Forum commission on the economy, business and trade.

In our submission we said:

• The UK has a thriving life sciences sector, which provides jobs and contributes to the economy, and delivers health and social benefits, such as new medicines for patients and technologies to support clean growth
• In response to COVID-19, there has been unprecedented action and collaboration between businesses, research institutions, charities and government to develop effective diagnostics, vaccines and therapies, and prepare for their large-scale manufacture. Post-pandemic, there is great opportunity to build on this to drive the economic and social recovery
• For more than five years, there has been cross-party support for policies to substantially increase public and private R&D investment, which we hope the new Labour Party leadership will maintain
• A strong and vibrant UK life sciences sector is essential to national security against future public health threats as well as the delivery of innovative new medicines for the NHS, creating rewarding and well-paid jobs across the UK and driving a new era of clean economic growth
• Labour’s industrial strategy for life sciences should focus on investing in jobs and skills, ensuring the ecosystem works together, creating the right environment for private investment, and support for investment in medicines manufacturing capacity
• The BIA sees this submission as the beginning of the conversation and would welcome more in-depth discussions with members of the commission and the Labour Party leadership