Dame Chi Onwurah

My hon. Friend makes an excellent point. My Committee has looked at some of the reasons for investments, such as those he sets out, and it is worth emphasising the strengths of the UK, some of which I have mentioned. We have a really strong life sciences sector, and specifically skills at every stage in the UK life sciences ecosystem, together with R&D tax credits, which is another point of incentivisation, and the fact that our NHS offers a fantastic opportunity to test and trial new medicines with a population that is heterogeneous and with population data records that are second to none. So there are many reasons why pharma and life sciences companies are continuing to invest in our country, and we have a fantastic ecosystem of life sciences start-ups and scale-ups. That brings me to the final question I want to put to the Minister, which is on the regional impact of the fund. The Minister mentioned on a number of occasions that the fund will drive investment and growth across our country. As part of the Committee’s inquiry into innovation and regional growth, we heard of significant disparities in investment, particularly in access to capital and research funding from UK Research and Innovation and in funding and investment between the regions of our country and the greater south-east, otherwise known as the golden triangle. Manufacturing is well distributed across the United Kingdom; we heard earlier about the opportunities in Northern Ireland. Can the Minister tell me whether there will be a regional dimension to how the funds are disbursed? I hope that the extent to which the funds are regionally distributed will be monitored, but does he expect that this funding will be distributed across the country to drive growth in every corner of the country as he said, and that it will not perpetuate existing regional inequalities?