Industrial strategy boosts university-industry engagement funding

Reuters

"We now look forward to further detail on the sector deals between the pharmaceutical industry and government on the back of Sir John Bell's impressive Life Sciences Industrial Strategy", commented ABPI chief executive Mike Thompson.

The Government wants to invest £725 million to "transform" industries such as housebuilding, medicine, automotive through new technology.

Business secretary Greg Clark said: "Our life sciences sector is one of the UK's fastest developing industries, with a turnover in excess of £64bn, employing 233,000 across the UK".

Carolyn Fairbairn, the director general of the Confederation of British Industry, warned that today's announcement "must be the beginning of a strategic race, not a tactical sprint", and urged the government to ensure the effects of Brexit were not allowed to harm industrial strategies as they are rolled out across the nation.

The Government today published its industrial strategy to make Britain more productive as two pharma giants announced a £1bn investment in Britain that will create up to 1,750 high-skilled jobs.

The Sector Deal, confirmed in the white paper later today, will drive investment in the UK's world-leading research infrastructure and boost productivity in the sector.

The company said it viewed Britain as a world-leader in science, although a spokeswoman said Brexit raised "some very real concerns" for the supply chain, drug regulation and the ability to attract talent to Britain.

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"It is clear that the United Kingdom can, through a collaborative partnership between government, industry, academia, charities and the NHS, deliver the next wave of innovation that will benefit patients, transform the health care system, and generate economic growth and improved productivity".

"These deals are just the first steps but will be instrumental in securing the future strength of the United Kingdom life sciences industry, helping the United Kingdom economy prosper and allowing NHS patients to get better and faster access to world-class medicines discovered and developed here in Britain".

Research and Development tax credit: The tax relief for companies which invest in R&D was increased in the Budget. Better planning for waste and waste-derived resources around the country, especially to provide sufficient capacity of the right kind in the right place to support local economic development, is a key ask.

Theresa May, UK Prime Minister said the Industrial Strategy "will help propel Britain to global leadership of the industries of the future - from artificial intelligence and big data to clean energy and self-driving vehicles" "As we leave the European Union and forge a new path for ourselves, we need to focus on building a better future for our country and all the people who live in it". Government will be working with industry and academia to deliver this goal.

This stems from the 2,000 responses the government received to its original green paper, published earlier this year, which suggested that it takes a whole systems approach to the energy market.

In the strategy, the government has identified 4 Grand Challenges; global trends that will shape our rapidly changing future and which the United Kingdom must embrace to ensure we harness all the opportunities they bring.

The government has identified four "Grand Challenges" - global trends that will shape a rapidly changing future and which the "UK must embrace to ensure we harness all the opportunities they bring".

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