Discovery Park CEO comments on historic budget
Mayer Schreiber, CEO of Discovery Park, the 220-acre science and innovation park in Kent with 160 companies on-site, commented after the budget, saying:
There are clearly some difficult decisions to be made with the Chancellor raising taxes, mainly on employers, by £40bn. But it is vital that we do not discourage further investment in high growth sectors such as life sciences which will deliver high quality jobs and tax receipts for the Exchequer.The industry will welcome the confirmation of the £520m life sciences manufacturing fund as well as confirmation of the extension of the Venture Capital Trust scheme for another 10 years. Both of these are a vote of confidence in life sciences as a key sector for the future of the UK economy.
The UK is a leader in life sciences, generating over £100bn in turnover, but despite our strengths in research and talent, many companies still look overseas for better funding and investment opportunities, so we must work harder to counteract this.
