Fri, 31 Jan 2025

Blow for Reeves as AstraZeneca ditches £450m investment

The drugs giant blames "protracted" talks with the government as well as differences over funding.
AstraZeneca has scrapped plans to invest £450m in expanding a vaccine manufacturing plant in Merseyside due to reduced government support.
* No jobs will be affected at the site
* The site will continue to produce and supply flu vaccines for patients in the UK and worldwide
* Chancellor Rachel Reeves had set out Labour's plan to boost economic growth just two days prior, but talks between the company and the government have stalled Background:
* Original plans were announced by former Conservative Chancellor Jeremy Hunt in March 2023
* Talks between Labour and AstraZeneca reportedly ran into delays
* The UK government has been trying to encourage more firms to invest in the country and create new jobs, but growth has remained sluggish.
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