AstraZeneca has scrapped plans to invest £450m in expanding a vaccine manufacturing plant in Liverpool, blaming a reduction in government support.
The pharmaceutical giant has announced its decision just two days after Chancellor Rachel Reeves set out Labour’s plan to go “further and faster” to boost economic growth.
AstraZeneca said that after “protracted” talks, a number of factors influenced the move, including “the timing and reduction of the final offer compared to the previous government’s proposal”.
The Treasury has been contacted for comment.
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