The noble Lord is very up to the minute with the final part of his question, so I will perhaps defer my answer until I have seen what detail emerges. As I explained in the recent Question on Horizon, it is still the Government’s desire to join the programme. We hope that the EU will adhere to the terms of the trade and co-operation agreement, which we mentioned.

The pharmaceutical industry in the UK employs more than 136,000 people, of whom more than 48,000 are in manufacturing sites. The bulk of those are across the country, outside London and the south-east. There is perhaps not cause for as much gloom as the noble Lord had in his question, but we know that there is more work to be done, hence the work of the Life Sciences Vision and the innovative manufacturing fund to which I referred. We look forward to announcing the first winners of that fund later this year.