AstraZeneca Halts £450M Investment Due to Reduced Government Support

AstraZeneca has ceased its planned £450 million investment in a vaccine manufacturing plant in Liverpool after government support declined. The decision arrives as Prime Minister Starmer seeks to bolster investment in Britain. Factors such as altered offers and current economic goals influenced the decision.

AstraZeneca has announced its decision to withdraw a substantial £450 million investment from a vaccine manufacturing plant in northern England. The company attributes this action to decreased government support.

The move to halt development at the facility in Liverpool coincides with Prime Minister Keir Starmer's efforts to attract investment for economic growth. An AstraZeneca spokesperson emphasized the decision stemmed from various factors, including adjustments in government proposals compared to previous offers.

Finance Minister Rachel Reeves highlighted AstraZeneca among firms contributing to job creation and investment. Despite stalled talks over state aid, the Liverpool site will continue flu vaccine production.

(With inputs from agencies.)