Matthew Neal’s Post

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Partner and Head of 5654 Health & Life Sciences

Reflecting on the Labour Conference 2024 in Liverpool, neither the weather nor the media dampened the spirits of delegates attending their first conference in power since 2009. Naturally, with a government that has a strong majority but contradictory voices calling for fiscal prudence vs public spending, it was not plain sailing on the banks of the River Mersey. However, the overall mood of those attending was they left more positive than when they arrived. Key positive signals and areas to engage on for the life sciences sector, included: -         Several Ministers highlighted the life sciences as central to the future industrial strategy and wanting the sector to thrive. -         Harnessing the power of pensions to support growth capital, through the Mansion House Compact, is a priority for the Government and these funds can support the growth of life sciences in the UK. -         The Department of Health will soon launch the "big engagement exercise" on a new 10 year NHS plan. On the flip side, there were areas of concern and where clarity will be needed. These include: -         Speculation around increases in CGT and IHT and the potential impact on risk appetite, business growth, and the AIM market. -         The Government's pace in establishing a regulatory framework for pension funds to invest in growth capital. -         Whether the Government will be bold enough digitising the NHS, bringing in new technologies and partnering with the private sector transform the service. Since the new Government has begun, they have diagnosed the problems, at length, and are making some of the right noises to solve them. To be deemed successful, the Government needs to deliver growth and to get investment from the private and international markets. This is especially important for life sciences and if the Government truly wants to capitalise on the innovation and talent in the sector, it should prioritise it, and those investing in it, as it moves towards the ‘cliff-edge’ Autumn Budget on 30 October 2024. #health #lifesciences #innovation

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Angelo Bruno

Sales Manager presso @Regusto | Sharing for Charity | Sustainability | CSR Strategy | ESG Environment Social Governance

2mo

I agree!

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