Steve Bates, chief executive of BIA, told the Exiting the EU Committee there are short- and long-term negative impacts of a no-deal Brexit. Bates also said that even talking up the threat of leaving the EU was damaging.
The evidence session at which Mr Bates spoke followed the televised debate between the then final five candidates to be leader of the Conservative Party (and Prime Minister), in which a no-deal Brexit was highlighted as a solution to the current situation of delays and stalemates on Brexit.
Mr Bates said:
“If you have got a set of scales, on one side we have the Life Science Sector deal R&D tax credits, and a fantastic life science [ecosystem].
“On the other side, we have the uncertainties around Brexit. Talk of no-deal adds another weight to that side of the scales – and is that the one that tips the investment decision against all that excellent work we’ve been doing for generations in UK life sciences, against the UK.”
Representatives from the Healthcare Distribution Agency and Chemicals Industry Association also spoke on the subject.
A video from the evidence session is available here.