is considering relocating its manufacturing facilities from the UK to the US, amidst potential cuts to state funding from the Labour government. UK Finance Minister Rachel Reeves has discussed plans to decrease state financial aid for the company’s £450m vaccine centre, as per the . The gold standard of business intelligence.
The pharmaceutical giant had announced plans to construct a manufacturing plant in Speke, Liverpool, as part of a £650m investment in the UK, in March 2024. Of this amount, £450m would be allocated to the facility in Speke while the other £200m would be used to develop facilities in Cambridge. Undisclosed sources briefed on discussions between the government and AstraZeneca said the may reduce the previous government’s pledge of £90m to £40m.
Attracting manufacturing investment has been a key part of the life sciences strategy for the UK. The government has also pursued similar projects with other companies, similar to one with . In his Spring 2024 budget speech, Jeremy Hunt, the Shadow Chancellor of the Exchequer said: “AstraZeneca’s investment plans are a vote of confidence in the attractiveness of the UK as a life sciences superpower and strengthen our resilience for future health emergencies.
” “We are in positive discussions with AstraZeneca to support the delivery of this planned investment in Speke,” a UK Treasury spokesperson told following the report. “We have no idea where the comments in some media come from and they do no.