L

Lord Vallance of Balham (Lab)

Speaking in the House of Lords on 11 September 2025

Debate

Merck Research Site

Contribution

I thank the noble Lord for raising the VPAG scheme. The VPAG scheme, which was negotiated under the previous Government, turned out with a figure of 23%, which was completely unexpected on both sides. The industry entered the scheme jointly with government, negotiated it and that is the number it came up with. We have been trying to negotiate a better position so that the industry gets more from that and is not hit with 23%. That is the deal going on at the moment. We are trying to make the environment better for companies and to rectify something that ended up in the wrong place.

More from Lord Vallance of Balham (Lab)

Other recent Hansard contributions by the same speaker.

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.

Partner sites