The CBI Health team’s reaction to the 2021 Budget
As he took to the dispatch box to deliver his speech, the Chancellor struck a positive tone, placing skills, R&D and business investment centre stage. However, while the government’s willingness to listen to business is hugely welcome, there remains work to do to deliver the high-productivity economy they seek to develop in the coming years.
Never has health and social care, job creation and public service provision featured so prominently in a Budget. It’s understandable given the 18 months we’ve all lived through, and for health and life sciences there’s certainly some wins to draw out. Whether it’s a broadened focus for R&S tax credit eligibility, or increased funding for digital capability across the NHS, the CBI welcome several announcements.
Announcements on R&D and COVID-19 treatments go some way to providing reassurance
Commitments for £20bn in R&D funding by 2045 alongside a refreshed focus on COVID-19 research are steps forward.
This commitment from government will make steps to ensure patient access to the most in
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