Ian Sollom

I welcome the Minister to his place. It is incredibly disappointing that MSD has pulled out of this billion-pound investment in the UK, including the loss of more than 100 jobs in important life sciences infrastructure. However, this has been on the cards for some time, and the warnings to Government have fallen on deaf ears. Earlier this year, AstraZeneca also cancelled planned upgrades to its production, and Novartis has described the UK as “largely uninvestable”. One pharmaceutical company reducing its UK operations is a problem, but there is a worrying trend that threatens a crisis in the sector. The UK is becoming less and less attractive to the life sciences industry, and with good reason. First, the Budget saw huge rises in costs to all businesses, including through Labour’s jobs tax. Secondly, there has been a notable lack of investment across the life sciences sector, including in job creation, critical skills and creating a commercial environment that can compete internationally. The Lib Dems continue to call for the Government to make research and development investment 3.5% of GDP, and the life sciences would be a key focus. That would be coupled with extra support for academic institutions to commercialise research. How do the Government plan to restore confidence among pharmaceutical companies that the UK is a competitive place for research and development and manufacturing?