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

AstraZeneca has been locked in a stand-off with the Government for months over state aid for the project, which would have involved a new factory powered by renewables built at the site. It had reportedly been offered around £90m by Rishi Sunak’s government, but Labour had sought to cut that state aid to £40m.

The pharmaceutical giant says the new Labour government has offered less investment than their Conservative predecessors.

AstraZeneca has axed plans to build a £450million vaccine manufacturing plant because of a lack of Government support in the latest blow to Rachel Reeves. The Labour government last summer tried to reduce the amount of state support provided to the Liverpool project from about £90million to £40million, reports have suggested.

AstraZeneca’s manufacturing will-they-won’t-they within its home country has swung back firmly toward the ‘they won’t’ camp after the British pharma confirmed that it’s ditching a major venture at | AstraZeneca is pulling the plug on a 450 million pound sterling investment at its vaccine production site in England due in large part to the reduction of a planned financial contribution from the U.

Fresh blow for Rachel Reeves as AstraZeneca scraps £450m investment in UK vaccine plant - The pharmaceutical giant claimed the Labour Government failed to match its predecessor’s offer but the cancell

The pharma giant blamed the Labour government reducing support as it dramatically torpedoed the development on Merseyside.