Adam Smith Institute released a paper titled Splice of Life: The Case of GMOs and Gene Editing, which is based on two decades' worth of research about the benefits of adopting GMOs. The paper, authored by Cameron English, Director of Biosciences at the American Council on Science and Health, stresses that the UK is moving in the right direction by considering more liberal biotech regulations.

The paper highlights the following points:

• - Through the adoption of GM products, global consumers save up to $24 billion per year, while the UK farming industry lost approximately £1.7 billion due to their GMO ban since 1996.
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• - The use of GMOs led to a 19 percent reduction in the environmental impact of pesticide use since 1996.
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• - GMOs are responsible for 34.2 million kilograms less carbon dioxide from 1996 to 2018.
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• - GMOs are safe for human consumption and help promote sustainable agriculture as confirmed by over 2,000 studies on their safety.
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• - Because of the precautionary principle, there is a near-universal prohibition of genetic engineering across the European Union. However, the EU imports around 30 million metric tons of soybean and soybean meal annually, wherein 90-95% is GMO.

Read the entire report from Adam Smith Institute.