Life Sciences Growth Package Unveiled by Chancellor to Stimulate Economy

The UK government has unveiled a £650m package aimed at boosting the country’s life science sector. Among the measures included in the “Life Sci for Growth” package are £121m to improve commercial clinical trials and speed up access to new medicines, up to £48m in funding for scientific innovation to prepare for future health emergencies, and £154m to expand the UK’s biological data bank. Incentives for pension funds to invest in promising science and tech firms have also been pledged. The package also involves changes to planning rules to free up lab space, and updates to the route of the new East-West Rail line linking Oxford and Cambridge.

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