The Labour government faces backlash for delaying a crucial £450 million vaccine investment in Liverpool, impacting AstraZeneca’s plans and timelines.
Liverpool: The Labour government is getting some serious heat. They’ve been slow to back a £450 million investment for a vaccine plant. AstraZeneca is feeling the pinch because of these delays.
The company missed a key deadline for its facility in Speke. Business Secretary Jonathan Reynolds was told this investment was urgent. But it seems the government didn’t act fast enough.
Shaun Grady, AstraZeneca’s chairman, reached out to Reynolds after Labour took office. He stressed the need for quick assurances about the future of the vaccine manufacturing plan.
He pointed out that AstraZeneca wanted to invest in a flu vaccine plant in northern England. This was especially important after the success of the Oxford-AstraZeneca Covid vaccine.
That vaccine was developed in record time, saving millions of lives. Now, AstraZeneca plans to invest in a facility that will be eco-friendly and create jobs.
Last year, they announced plans for a £450 million investment to boost vaccine research and manufacturing. They also wanted to expand their presence in Cambridge, creating more jobs there.
But after Labour’s election win, AstraZeneca didn’t get the support it needed. They only received a grant offer months later, which was too late for their timelines.
The government did announce a new fund for life sciences, but it wasn’t enough to meet AstraZeneca’s needs. Now, the project has to be reworked to fit tighter deadlines.
There’s pressure on Prime Minister Sir Keir Starmer and Ms. Reeves to attract private investment. The economy is shaky, and they need to act fast.
A government spokesperson said they’re committed to making the UK a top place for developing new medicines. They’re in talks with AstraZeneca to support this investment in Speke.
