The Government want to see world leading advanced manufacturing, life sciences, creative industries, business services, and green energy across the whole of the country.

The Chancellor also recognised the importance of making our tax system more attractive to multinationals. With pharmaceutical companies such as Pfizer already closing down R&D sites in Britain, it is essential that these simplifications are undertaken immediately.

In the life sciences, the time it takes to get approval for clinical trials will be radically reduced, which will be well received. A further boost came from an additional £100 million investment this year in new science facilities at: The Babraham Research Campus in Cambridge (BBSRC); The Norwich Research Park for environmental and life sciences (BBSRC); The International Space Innovation Centre at Harwell; The National Science and Innovation Campus at Daresbury.

Dr Mark Downs, CEO of the Society of Biology said, "The Chancellor's additional support for the life sciences provides a strong message around the value of biology and its contribution to health and the economy. The greatest challenges the world faces: food security, climate change, loss of biodiversity, the aging population and disease can all ultimately be addressed through biology based research. The BBSRC plays a critical role in supporting UK bioscience and we are delighted that the excellence of their research centres has been recognised through additional public sector funding."

Society of Biology statement