BIA Response to the Budget 2012

The BioIndustry Association (BIA) welcomed the continued support for the life sciences sector outlined by the Chancellor of the Exchequer in the Budget. Glyn Edwards, BIA Interim Chief Executive, said: "We are pleased that the Chancellor recommitted the government to supporting the life sciences sector in the Budget. The Chancellor's plans to help enable the commercialisation of research, invest £100 million in new university research facilities and to increase the Enterprise Management Incentive Scheme grant limit are to be welcomed. However, the BIA believes that this commercialisation will be helped if innovative companies have access to additional sources of funding, such as that offered by our proposed Citizens Innovation Funds. These funds would make the government an enabler rather than a provider of much needed investment in innovative businesses.