MP, Shadow Science, Innovation
and Technology Secretary, said:
“We welcome this announcement, but it comes against a backdrop of
declining foreign direct investment into the UK. Under Labour,
the number of FDI projects fell by 12 per cent last year to the
lowest level on record.”
"Sadly, on the day of the President's State Visit, the Prime
Minister and his Downing Street team remain embroiled in scandal
and distracted from the very real problems faced by families
under this Labour Government.”
“Britain has world-leading scientists, innovators and tech firms,
but this country's potential is being squandered. The loss of
major pharmaceutical deals, including AstraZeneca's decision to
pause its planned £200 million investment in Cambridge, is a
damning indictment of Labour's failure to provide a stable and
competitive business environment."
"Only the Conservatives will realise this country's potential and
help unlock our scientific brilliance to deliver a stronger
economy”
ENDS
NOTES TO EDITORS:
-
Under Labour, Foreign Direct Investment projects have
fallen to a historic low. 1,555 Foreign Direct
Investment projects took place in 2023-24 compared to 1,375 in
2024-25, a drop of an eighth, or 12 per cent. This is the
lowest level recorded of FDI projects recorded by the
government (DBT, Inward Investment Results, 26 June 2025,
link).
-
£2 billion of life sciences investment has been
cancelled this year. Nearly £2 billion of life
sciences investment has been cancelled or paused, with a £450
million investment by AstraZeneca in Liverpool scrapped, a £200
million investment by AstraZeneca paused, a £1 billion
investment by Merck in London cancelled and Eli Lilly's £279
million investment in London scrapped, totalling £1.93 billion
(The Guardian, 16 September 2025, link).
