Astrazenecas 450m Vaccine Plant At Risk As Rachel Reeves Tightens Belt

AstraZeneca 450m vaccine-manufacturing site on Merseyside put at risk by Treasury review

Treasury in 'positive discussions' with AstraZeneca over 450m vaccine-manufacturing site on Merseyside

The Treasury has reassured that it remains in positive discussions with AstraZeneca regarding the pharmaceutical giant's proposed 450m investment in a vaccine-manufacturing site on Merseyside.

However, the investment has been cast into doubt after Shadow Chancellor Rachel Reeves announced a review of all government spending commitments.

AstraZeneca announced the new facility in March as part of wider plans to invest 650m across the UK. This would be split into 450m for the new manufacturing site and 200m for research and development.

What has the Treasury said?

A Treasury spokesperson said: "We are in positive discussions with AstraZeneca about their proposed investment in a vaccine-manufacturing site on Merseyside.

"We want to ensure that the UK remains a world leader in vaccine manufacturing and that we have the capacity to respond to future pandemics.

"We are committed to working with AstraZeneca to explore all options to make this project a success."

What has AstraZeneca said?

An AstraZeneca spokesperson said: "We are aware of the Treasury's review of government spending commitments.

"We are confident that our proposed investment in a vaccine-manufacturing site on Merseyside is a sound one and will benefit the UK in the long term.

"We are committed to working with the Treasury to explore all options to make this project a success."

The Treasury's review is expected to report back by the end of the year.