THE mayor of London launched an initiative on Monday (29) to tackle under-representation of young black men in London’s thriving technology sector.
The intervention is the latest part of Sadiq Khan's Workforce Integration Network programme which is focussed on increasing the number of young black men in the capital’s key industries.
According to statistics, Black men make up just five per cent of London’s growing 589,730 strong technology workforce, in a sector which is worth £56 billion to the economy.
Rather than just focussing on ‘skilling up’ young Black men to apply for jobs in the tech sector, the mayor’s Design Lab3 creates a space for businesses to come together, critique existing practices and explore the causes of under-representation in their workforces and the sector as a whole.
Large businesses are then are supported, as part of a 12-month programme to build an action plan to recruit, retain and progress more black men in their businesses. This action will focus on areas around recruitment, supply chains, workplace culture, data and progression.
At the end of the year-long programme, the businesses involved would have built an action plan to address the lack of diversity in their organisations, and ensure that young black Londoners who face additional barriers to employment now have the right opportunities and support to join and thrive in the tech sector.
The eight technology companies selected to take part in the programme are: Dell Technologies, Informa Tech, Cloudreach, Ford Motor Company, Profusion, Cognizant, Panaseer, and Telent Technology Services.
Khan said: “It’s simply not right that young, talented and ambitious young black Londoners are not being given the opportunity to prosper in the capital’s thriving tech sector.
“The impact of the pandemic has reinforced why the work of the Workforce Integration Network is so important. We have already successfully supported 20 large businesses in the construction and infrastructure sectors, representing a combined workforce of over 100,000, to remove barriers holding young black Londoners back, and I’m pleased that we are now building on this work with more action.
“I’m determined to ensure no Londoner is left behind as we recover from the pandemic. Someone’s life chances should never be limited by their family’s background or the colour of their skin. This new initiative will give tech and digital businesses better insight into the role they can play to address inequalities, improve diversity and create industry-wide change.”
UK life sciences sector contributed £17.6bn GVA in 2021 and supports 126,000 high-skilled jobs.
Inward life sciences FDI fell by 58 per cent from £1,897m in 2021 to £795m in 2023.
Experts warn NHS underinvestment and NICE pricing rules are deterring innovation and patient access.
Investment gap
Britain is seeking to attract new pharmaceutical investment as part of its plan to strengthen the life sciences sector, Chancellor Rachel Reeves said during meetings in Washington this week. “We do need to make sure that we are an attractive place for pharmaceuticals, and that includes on pricing, but in return for that, we want to see more investment flow to Britain,” Reeves told reporters.
Recent ABPI report, ‘Creating the conditions for investment and growth’, The UK’s pharmaceutical industry is integral to both the country’s health and growth missions, contributing £17.6 billion in direct gross value added (GVA) annually and supporting 126,000 high-skilled jobs across the nation. It also invests more in research and development (R&D) than any other sector. Yet inward life sciences foreign direct investment (FDI) fell by 58per cent, from £1,897 million in 2021 to £795 million in 2023, while pharmaceutical R&D investment in the UK lagged behind global growth trends, costing an estimated £1.3 billion in lost investment in 2023 alone.
Richard Torbett, ABPI Chief Executive, noted “The UK can lead globally in medicines and vaccines, unlocking billions in R&D investment and improving patient access but only if barriers are removed and innovation rewarded.”
The UK invests just 9% of healthcare spending in medicines, compared with 17% in Spain, and only 37% of new medicines are made fully available for their licensed indications, compared to 90% in Germany.
Expert reviews
Shailesh Solanki, executive editor of Pharmacy Business, pointed that “The government’s own review shows the sector is underfunded by about £2 billion per year. To make transformation a reality, this gap must be closed with clear plans for investment in people, premises and technology.”
The National Institute for Health and Care Excellence (NICE) cost-effectiveness threshold £20,000 to £30,000 per Quality-Adjusted Life Year (QALY) — has remained unchanged for over two decades, delaying or deterring new medicine launches. Raising it is viewed as vital to attracting foreign investment, expanding patient access, and maintaining the UK’s global standing in life sciences.
Guy Oliver, General Manager for Bristol Myers Squibb UK and Ireland, noted that " the current VPAG rate is leaving UK patients behind other countries, forcing cuts to NHS partnerships, clinical trials, and workforce despite government growth ambitions".
Reeves’ push for reform, supported by the ABPI’s Competitiveness Framework, underlines Britain’s intent to stay a leading hub for pharmaceutical innovation while ensuring NHS patients will gain faster access to new treatments.
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