Office for Life Sciences, Life Science Large Investment Portfolio Scheme

This Office for Life Sciences, Life Science Large Investment Portfolio Scheme will provide up to £570 million in capital grants for investments in the manufacturing and/or research and development of human medicines, medical technology products and medical diagnostics in the UK.

A competitive process will be used to award the subsidies with the maximum grant award limit being £130 million (the typical intervention rate will be roughly 10-20% of project costs).

Our key takeaways from the Subsidy Advice Unit (SAU) report are:

• In relation to other means of achieving policy objectives, Assessments should clearly explain the extent to which the following were considered:
  • non-subsidy options listed for predecessor;
  • the interaction between the Scheme and other ongoing Government policy initiatives aimed at increasing UK life sciences investments, including why the Scheme is necessary; and
  • why other alternatives were rejected for the Scheme.
• In relation to competition and investment, detail should be provided on the potential distortive impacts:
  • on competition or investment in the UK in awarding “trusted trader” status to Scheme beneficiaries; and
  • arising from differences in costs covered by the Scheme and any alternatives means.

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