BIA responds to the Chancellor's Autumn Budget 2025
Commenting on the Chancellor's Autumn Budget 2025, Jane Wall, Managing Director of the UK BioIndustry Association (BIA), said:
BIA has long argued that outdated limits on venture investment tax incentives and employee share options are holding back the scale-up of life science companies, so we are delighted that the Chancellor has chosen to extend these today. Ahead of the Budget, the CEOs of 200 of our member companies wrote to the Chancellor calling for these changes, so we are pleased to see that noted and delivered.
Under tough economic circumstances, this Budget has prioritised tax and spending decisions in areas where the UK can win. Backing scale-ups in life sciences, biotech and AI will drive economic growth and deliver innovative new products that will improve both health outcomes and global sustainability.
However, we are very concerned about increases to business rates on expensive workspaces. Life science companies will be unfairly and disproportionately affected, given the need for expensive laboratory facilities alongside office space.
The Chancellor and this government have consistently highlighted life sciences and biotech as a key economic opportunity for the UK. However, domestic and global headwinds continue to create significant challenges and uncertainty for the sector. At times like this, governments need to lead by investing in and demonstrating confidence in national champion sectors, rather than raising their operating costs.
