Successive governments have lauded the life sciences as a pillar of the UK economy in recent years. David Cameron talked about “a jewel in the crown”. Theresa May set out her ambition to make Britain “the global go-to place for scientists, innovators and tech investors”. And Boris Johnson has already committed to ‘supercharge’ UK science following Brexit.

There is optimism around the potential for growth in the industry – driven in no small part by a uniquely exciting moment for scientific advances.

This IPPR analysis shows that we have had a lost decade that has left one of our strongest sectors stagnating, even before accounting for its significant vulnerability to an unmanaged, no-deal Brexit.