8 September 2010 -- The BioIndustry Association (BIA) has challenged the Chancellor, George Osborne, and the Business Secretary, Vince Cable, to put world-class innovation at the heart of government decision-making to ensure that areas of UK scientific excellence, such as the life sciences, can flourish and contribute to a sustainable economic recovery.
Today, US President Obama, has proposed to expand and simplify the US R&E Tax Credit and to make it permanent to help encourage future productivity and growth, this follows earlier announcements of spending on scientific research. The BIA believes that the UK Government should ensure that scientific research in the UK is sufficiently funded and should support measures designed to help innovative companies exploit that research, such as R&D Tax Credits and the Patent Box.
Nigel Gaymond, BIA Chief Executive, said tonight:
“Speaking today, Dr Cable acknowledged that the UK should focus on those areas in which it has already established a strong global lead, such as the life sciences, where we have a recognised comparative advantage over other countries. “This is a high value-added sector which can not only deliver improvements in healthcare but also deliver significant revenues for the exchequer once products are commercialised.
“If the UK is to rebalance the economy away from financial services, it is essential that research funding and incentives for investment in innovative industries, such as the life sciences, are supported, especially if that support encourages the exploitation of research in the UK.”
For further information, please contact Robert Winder, Communications Manager, 020 7565 7193; mobile 07825 942 934.
BioIndustry Association
Established in 1989, the BIA (BioIndustry Association) exists to encourage and promote a financially sound and thriving bioscience sector within the UK economy and concentrates its efforts on emerging enterprise and the related interests of companies with whom such enterprise trades.
With over 250 members, the BIA supports a wide range of sectors, majoring on the human health benefits of the technology and represents the interests of these innovative companies to a broad section of stakeholders from patient groups to politicians, advancing its members interests both within the UK and internationally to create a healthy UK bioscience sector which benefits society. For further information, please go to: www.bioindustry.org
The BIA events programme provides numerous opportunities for topical debate about emerging trends and key issues - plus excellent networking opportunities all year-round.
Up-Coming Events And Seminars:
BIA BioLeadership Summit 16-17 September – Hertfordshire. Click here for more information.
Talent Management in Practice 30 September – London. Click here for more information.
BIA Autumn Reception 30 September – London. Click here for more information.
The UK: A World-Leading Global Hub for Innovative Lifescience Research and Development Our Vision For a New Decade 25 October – London. Click here for more information.
Life Sciences Dinner – Scotland 27 October – Edinburgh. Click here for more information.
BIA Gala Dinner 2011 27 January – London. Click here for more information.
