UK life sciences get £650 million growth package 5 Jun 2023

Chancellor Jeremy Hunt has announced a comprehensive ‘Life Sci for Growth’ package of support for the UK life sciences sector, designed to grow the economy through improving regulation around clinical trials, manufacturing, skills and infrastructure.

The initiative encompasses 10 different policies, including £121 million for commercial clinical trials, up to £48 million for scientific innovation for future health emergencies, £154 million for the UK Biobank, plus up to £250 million to encourage pension schemes to invest in science and technology companies.

As part of the plans, the Academic Health Science Network will be relaunched as Health Innovation Networks, bringing together stakeholders to share best practice. The package will also change planning rules to free up lab space and action the new East West Rail railway line linking the science centres in Oxford and Cambridge.

Read more details in the government’s statement here.