It is the Government’s intention to complete all negotiations by that point.
I think that all noble Lords agree that UK notified bodies have a strong reputation in the EU. We have heard it more than once this evening. The notified bodies assess a disproportionate number of medical
devices. According to a recent independent assessment of the market, UK notified bodies make up the first, third and fourth largest share of assessors. Furthermore, we estimate that UK notified bodies oversee between 50% and 60% of all the highest-risk devices on the EU market.
As I stated earlier, the UK has played a leading role in the negotiations of new regulations for medical devices in general and, specifically, for in vitro diagnostic medical devices. I believe that these innovations will make a significant difference. As the Government have made clear, whatever the outcome of negotiations, the principles which underpin our approach remain: that patients should not be disadvantaged; innovators should be able to access the UK market as quickly and simply as possible; and the UK will continue to play a leading role in both Europe and the world in promoting public health.
At the heart of much of this is the notion stressed by the noble Baroness, Lady Finlay. Inside the EU, there are a number of means by which research is supported, not least of which is the Horizon 2020 fund. We have been blessed by punching above our weight in securing funds from this resource. I believe that in future it will be an asset for the entire EU and this will be negotiated in the next few years. It has yet to be made clear exactly how it will be determined. I remind noble Lords that the last time this was negotiated the EU top-sliced a substantial amount of money away from the fund, to the detriment of the overall Horizon 2020 reach.
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I will, if I may, touch upon one issue raised by the noble Lord, Lord Deben. He raised a number of issues, one of which rested on the question of morality. I am always loathe to enter a debate of which morality is at the centre, but in this instance it is appropriate: there is a moral question that we need to address here. In truth, it needs to be addressed by both sides in these negotiations. Our question must therefore rest on the morality of both in recognising that we are not simply talking about a constitutional arrangement; we are talking about how to ensure that innovation in medical devices more broadly can be embraced across the continent of Europe, and that the innovations that can originate in the UK or elsewhere are, none the less, available to all.
These are some of the challenges that both sides will face. Moving forward on the basis of the Mansion House speech given by my right honourable friend the Prime Minister in the area of mutual recognition will bear much fruit. Again, I must stress that the outcome will rest with the negotiations, and those negotiations have not yet begun. On that basis, I hope that the noble Lord will feel able to withdraw his amendment.