Select committee: Business, Innovation, Science and Trade Committee
Conclusion 15
6th Report - The UK-US economic relationship: 250 years on
Published 4 Jul 2026
Addressed to Department for Business and Trade
Business, Innovation, Science and Trade Committee UK trade with the US All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The Pharmaceutical Arrangement was a necessary response to an acute tariff threat to £4 billion of UK exports. However, the cost to the NHS is material, contested, and opaque. Whether increased NHS spending translates into increased UK R&D investment, remains the critical unresolved question. (Conclusion, Paragraph 80) 60
From: Business, Innovation, Science and Trade Committee, 6th Report - The UK-US economic relationship: 250 years on (HC 127), 4 July 2026
Government response
No government response linked yet: deadline 4 September 2026, 58 days ago.