BRITISH pharmaceutical giant AstraZeneca said on Friday (Jan 31) that it was abandoning plans to build a £450 million (S$756.9 million) vaccine plant, a major blow to the Labour government’s plans to revive a sluggish economy.

AstraZeneca is pulling out of its plans to build a £450mn UK vaccine manufacturing plant after months of wrangling with British officials about state investment for the Merseyside project, in a major blow to Prime Minister Sir Keir Starmer’s government.

AstraZeneca announced it will not proceed with plans for a 450 million pound vaccine manufacturing plant in Speke, Liverpool. The decision was influenced by discussions with the current government and changes in the financial offer.

AstraZeneca has scrapped plans to invest £450m in expanding a vaccine manufacturing plant in Merseyside, blaming a reduction in government support. The pharmaceutical giant announced its decision just two days after Chancellor Rachel Reeves set out Labour's plan to go "further and faster" to boost economic growth.

Pharmaceutical company AstraZeneca has cancelled a planned 450 million-pound investment in a vaccine manufacturing plant in northwest England.

AstraZeneca has cancelled plans for a £450m vaccine manufacturing plant in Liverpool, blaming a cut in funding from government.

AstraZeneca has dropped its plans to £450m at its vaccine manufacturing plant in Speke, Merseyside, blaming a reduction in government support. The move will be seen as a major blow to the government, coming at a time when it is pushing hard to secure investment in the UK to drive economic growth.

Several factors have influenced this decision including the timing and reduction of the final offer compared to the previous government’s proposal'

The decision to ditch the development of an existing facility in the Speke area of Liverpool comes at a time when Prime Minister Keir Starmer is pushing hard to drum up investment in Britain