Hot on the heels of encouraging news about a COVID-19 vaccine, a fresh report from the CBI has called on the government to take decisive action to bolster the UK’s world-leading life-sciences sector.
The report, “Let’s Get Clinical”, outlines numerous ways to deliver vastly improved patient outcomes, cement the UK’s reputation as a leading hub for research and innovation, and pull ahead of growing international competition.
The life sciences sector is at the heart of economic and social prosperity in the UK. Contributing over £70bn per year to the UK economy, and employing nearly a quarter of a million people across the country, the sector plays a vital role in both driving innovation and delivering improved patient outcomes and standards of care.
Looking at five key drivers of competitiveness, measured against key international competitors, the report “Let’s Get Clinical” evaluates progress and makes recommendations for bolstering the UK’s position as a global life sciences hub.
These include Government-backing of the sector, a strengthening of the research and innovation framework, access to talent, a stable and competitive taxation system and a flexible healthcare system keeping pace with changing patient needs.
Speaking about the new report Matthew Fell, CBI Chief UK Policy Director, said:
“The life sciences sector is already a major asset for the UK economy and society, but that doesn’t mean we can rest on our laurels. The race for investment and talent is fierce. Other countries are desperate to usurp the UK’s leading position, so it’s time to put clear distance between us and the competition.
“By strengthening the UK’s innovation ecosystem, ensuring government-backing for the sector and enhancing tax competitiveness we can lay the foundations for a world-class offer that is not only competitive today, but offers jobs, growth and opportunities long into the future. Aligning the country’s skills system to the sector’s needs will ensure a stream of talent to help the sector grow and thrive.
On the impact of COVID-19 and delivering improved patient outcomes, Matthew said:
“The COVID-19 crisis has been a landmark moment in highlighting the importance of the life sciences sector to the UK’s resilience. It has also shown just how powerful true partnership between the public sector and and business can be, ranging from the heroic efforts of our healthcare workers to the agility of firms in rising to the PPE challenge through to working round the clock to develop an effective vaccine.
“By simplifying NHS procurement, accelerating digital transformation, and strengthening engagement with the life sciences sector, we can ensure patients across the UK get the best and most effective treatments available anywhere in the world.”
Dr Richard Torbett, Chief Executive of Association of the British Pharmaceutical Industry (ABPI) said:
“Science will help us beat this pandemic and good-quality jobs will help us deal with the economic fallout. Our life sciences sector provides both and has the potential to deliver so much more.
“Implementing policies that keep us competitive today will define the next decade of UK life sciences as much as artificial intelligence or aging research will.
“We want the UK to be the best place in the world to research, develop and use the medicines of the future. Today’s report is an opportunity to reaffirm the importance of the continued success of our sector.”
