MP, Shadow Business
Secretary, said:
“There's no vaccine for incompetence. In the same week they
talked about growth, Labour seem to have fumbled a deal with
AstraZeneca, one of the UK's largest companies and central to the
critical Life Sciences sector.
"This is yet another sign that their tax rises and changes to
employment law have made the UK an unattractive place to invest.
"When will Labour learn that only businesses can creates growth
and jobs in the economy?”
ENDS
Notes to Editors:
-
In October 2024, the Chief Executive of AstraZeneca met
with and in Downing Street.
joined the Chancellor and
the Prime Minister in 10 Downing Street to meet with Pascal
Soriot, where they discussed ‘life sciences and the
contribution of this key sector to the economic growth and
health missions of this Government' (, Instagram, 10
October 2024, link).
-
AstraZeneca has scrapped a £450 million investment in
Speke to deliver a new vaccines plant, citing Labour's handling
of the process. AstraZeneca has pulled a proposed £450
million investment in a new vaccines plant in the north of
England, with a spokesman saying that ‘several factors have
influenced this decision including the timing and reduction of
the final offer compared to the previous government's proposal'
(The Times, 31 January 2025, link).
-
AstraZeneca announced plans to invest £450 million in
the new vaccine facility in March 2024, under the last
Conservative Government. AstraZeneca announced their
intention to invest £450 million at their manufacturing site in
Speke, Liverpool for the research, development, and manufacture
of vaccines under the last Conservative Government (HMT,
Press Release, 6 March 2024, link).
