BIA response to the House of Commons Science and Technology Committee science funding inquiry

The BIA has responded to the House of Commons Science and Technology Select Committee’s inquiry on the balance and effectiveness of science funding.

In our submission, we highlighted:

• The effectiveness of dedicated funding programmes for the life science sector
• The need for a strong industry voice in UKRI funding decisions
• The importance of government levers, such as R&D tax credits and the Patent Box, for raising R&D investment and ensuring the UK remains globally competitive

The background of the Committee’s inquiry is the creation of the UKRI, the government’s aim for the UK to invest 2.4% of GDP in R&D by 2027, and the Comprehensive Spending Review 2019.