Pharmaceutical industry response to Budget 2020

The Chancellor Rishi Sunak has delivered his first Budget, and the first for the Government following last year's General Election.

We look forward to working with Government on a shared ambition to attract global investment to the UK’s thriving life sciences sector. Richard Torbett

In response, Richard Torbett, Chief Executive of the ABPI, said:

"Given the difficult circumstances this Budget is delivered in, we’re pleased to see the Chancellor’s commitment to science and research.

“Increasing science investment and raising R&D tax credits are important steps to reaching the goal of 2.4 per cent of GDP spent on research, and will be critical to the future success of our industry.

“We look forward to working with Government on a shared ambition to attract global investment to the UK’s thriving life sciences sector.”

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The ABPI exists to make the UK the best place in the world to research, develop and use new medicines. We represent companies of all sizes who invest in discovering the medicines of the future. 

Our members supply cutting edge treatments that improve and save the lives of millions of people. We work in partnership with Government and the NHS so patients can get new treatments faster and the NHS can plan how much it spends on medicines. Every day, we partner with organisations in the life sciences community and beyond to transform lives across the UK.