ABPI response to the Spending Review
The Chancellor has unveiled the government's spending plans for the coming year, including for NHS funding, clinical research, and cutting-edge R&D.
Today’s Spending Review was delivered at a time of huge economic uncertainty but also at a time when new vaccines from the pharmaceutical industry and its partners are offering the world hope of a way out of the pandemic. Richard Torbett
The Spending Review contained several key announcements for the pharmaceutical industry and in response, Richard Torbett, Chief Executive of the ABPI, says:
On £3 billion to support the NHS recovery from the impacts of COVID-19:
“Today’s Spending Review was delivered at a time of huge economic uncertainty but also at a time when new vaccines from the pharmaceutical industry and its partners are offering the world hope of a way out of the pandemic.
“The Chancellor sent an important signal of support for NHS services that have been hit by the pandemic. It’s critical that where treatment has been delayed or disrupted, we work together to get it back on track.
“Pharmaceutical companies continue to work around the clock to support this work, including how to safely restart start the clinical trials and research affected.”
On £14.6 billion in funding for R&D to forge the UK's future as a global leader in science and technology*:
“As the government focuses on its growth agenda, it should look to life sciences and make the most of this funding to unlock the future potential of our sector.
“Policies that encourage investment into cutting-edge research – such as delivering on the vision for UK health data – will deliver a triple win: for jobs, for the economy, and for the UK’s world-beating life sciences sector.”
On funding for coronavirus vaccines and preventative measures:
“As companies begin to seek approval from the regulator for new COVID-19 vaccines, it’s critical that we get the roll out right. Today’s funding will help them and the NHS plan for this enormous task and work together so that the right logistics are in place.”
Policies for the future of UK life sciences
*As we move into the next phase of the pandemic, it is vital that the government also sets out plans for the future success of the life sciences sector, both to aid in the economic recovery and the UK’s resilience against future health threats.
Those plans should include:
- Capital grants for medicines manufacturing – up-front capital incentives to attract investment in strategically important projects, as are currently offered by many of the UK’s leading competitors.
- Enhanced R&D tax credits – to catalyse growth across all innovative industries and allow the pharmaceutical industry to invest in cutting-edge research including health data.
- Investment in preventative healthcare – ensuring the NHS’ long term goals for prevention are met through a fully funded vaccine programme and partnerships with the life science sector.
- Modernised NICE’s appraisal methods – so that the full value of a medicine’s impact on patients, carers, the NHS, and society is reflected would make a significant improvement to the ability for patients with rare diseases to access the latest medicines.
Last modified: 20 September 2023
Last reviewed: 20 September 2023