To ask the Secretary of State for Business, Energy and Industrial Strategy, what support his Department is providing to the life sciences sector to help ensure that life sciences research does not suffer long-term damage as a result of the covid-19 lockdown.
The Government’s long-term objectives for research and development (R&D) are clear: to be a science superpower and invest in the science and research that will deliver economic growth and societal benefits across the UK for decades to come, and to build the foundations for the new industries of tomorrow. This was supported by the unprecedented commitment at the Budget to increase public investment in R&D to £22 billion by 2024/25.
In June, the Government announced a support?package to sustain research capacity and capability, including life sciences research, which might otherwise be impacted by COVID-19. From this autumn, UK universities will be able to access a Government funded package of long-term, low interest loans, supplemented by a small amount of grant, covering up to 80% of the university’s income losses from international students for the academic year 2020/21, up to the value of their non-publicly funded research activity. This will help to protect research jobs, capability, and ground-breaking research.