[Ip-health] New focus on medical research in UK

[Michelle Childs]

Extract from the UK Chancellor's budget speech
http://www.hm-treasury.gov.uk/pre_budget_report/prebud_pbr06/
prebud_pbr06_


Michelle


First, science and innovation.

Twenty five years ago the market value of our top companies was no
more than the value of just their physical assets. Today the market
value of Britain's top companies is five times their physical assets,
demonstrating the economic power of knowledge, ideas and innovation.

And the next challenge for Britain is to match strength in basic
research with success all round in transforming knowledge into
successful products and new jobs.

So having consulted on the way forward for university research, we
are today detailing a new system for assessment and funding.

And as a first step universities will have access to =A360 million a
year directed to applied research with commercial potential.

We are determined that Britain be a world class location for future
medical research, including stem cell. So that Britain leads the
world in developing new treatments and new drugs, we will bring
together the research capability of our universities, institutes and
pharmaceutical companies with the unique resources of the NHS.

I can confirm with a pooled budget of over =A31 billion a year and a
new fast-track procedure for priority research, President of the
Academy of Medical Sciences, Professor John Bell, will lead this new
drive to identify for Britain the most useful and fruitful areas for
potential medical breakthroughs.

British science can also do more to eradicate poverty and disease
around the world, so the International Development Secretary is
establishing a new partnership with the research councils and
charities, including the Wellcome Trust and the Gates Foundation, so
that we can maximise the contribution of British inventors,
scientists and researchers to this urgent global task.

It is because the future success of our creative and knowledge based
industries depends upon Britain having a robust intellectual property
regime that the Secretary for Industry is announcing today he will
tighten the penalties for copying and piracy while giving individuals
new rights for personal use; and he will introduce a new fast track
protection for small companies to safeguard their trademarks.