🎉 Delegated Legislation Committee

General Committees

🌶️ 🌶️ 🌶️ 🌶️ 🌶️

The UK Parliament has approved a £129 million grant to BioNTech UK to boost research and development in life sciences, aiming to drive economic growth and enhance the NHS. BioNTech plans to invest around £1 billion over the next decade, focusing on cancer treatments, AI-driven drug discovery, and vaccines at new sites in Cambridge, London, and a third location. Despite concerns about the UK’s investment environment, the government highlighted its success in attracting £63 billion in investments at a recent summit. The funding is expected to create 460 high-skilled jobs and support the development of cutting-edge medical technologies.

Summary

  • Purpose of the Session: The Committee debated a motion to authorize the UK Government to provide BioNTech UK Limited with financial assistance. This assistance was proposed to be a grant between £30 million and £129 million.

  • BioNTech’s Plans: The grant aims to support BioNTech’s expansion of research and development, as well as artificial intelligence activities in the UK over the next decade. BioNTech plans to invest around £1 billion and create about 460 high-skilled jobs.

  • Investment Details: BioNTech will establish a new centre of excellence in Cambridge for drug discovery and development of treatments for cancer and other serious diseases. In London, a major hub with a focus on AI will be set up to enhance disease understanding and drug targeting. A third site will be used for R&D into vaccines, particularly those with high pandemic potential.

  • Government’s Strategy: The investment aligns with the Government’s missions to boost economic growth and improve the NHS. It supports the thriving life sciences sector, responsible for over £100 billion in turnover and over 304,000 jobs in the UK. The grant supports the Government’s commitment to fostering innovation and rebuilding a competitive business environment.

  • Concerns and Rebuttals: Concerns were raised about the overall investment climate in the UK. The Minister countered these concerns by highlighting that the UK attracted £63 billion in investment at a recent global summit and that it’s ranked highly as a place for investment. The Minister emphasized the Government’s commitment to making the UK an attractive place for innovative companies.

  • Monitoring the Investment: The Government will use standard procedures to monitor the use of the grant, ensuring that it delivers high-quality jobs and innovation.

  • Outcome: The motion to provide financial assistance to BioNTech was agreed upon unanimously by the Committee.

Divisiveness

The session displayed minimal disagreement among the members. The discussions were primarily focused on outlining the benefits and the monitoring of the financial assistance to BioNTech UK rather than any opposition to the motion. The Minister, Feryal Clark, introduced the motion and provided detailed justification for it, emphasizing the positive impact on the UK’s life sciences sector and economy. The responses from Dr. Ben Spencer and Victoria Collins, while offering some critiques related to broader government policies and the need for monitoring, did not challenge the motion itself. They even explicitly welcomed the investment.

  • Dr. Ben Spencer mentioned general concerns about the investment environment but did not oppose the grant to BioNTech; he specifically welcomed the investment.
  • Victoria Collins focused on the urgency of cancer treatment and the need for effective use of the funds, but she also welcomed the investment and supported research and development in healthcare.

The Minister responded to these queries without any contention, further emphasizing the government’s commitment and the positive economic outlook. The motion was put to the question and agreed to without further debate or disagreement, indicating consensus among the members present.