Today’s much-anticipated Budget was pitched by the Chancellor as a plan to “make the UK the best place in the world to do business.”
Yet, for those of us watching the life sciences and pharmaceutical sectors closely, the substance of the announcement fell noticeably short of the ambition of the rhetoric.
The industry — a cornerstone of the UK’s innovation economy and a proven engine of high-value manufacturing — entered Budget day with cautious optimism.
With mounting global competition for R&D, advanced manufacturing and clinical trials, and with domestic challenges surrounding regulatory certainty and access to growth capital, this was a critical moment for government to demonstrate long-term commitment.
Instead, sentiment across the sector was swift and unambiguous: this was a missed opportunity.
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