Fresh blow for Rachel Reeves as AstraZeneca scraps £450m investment in UK vaccine plant

Rachel Reeves’ hopes to regain business confidence suffered a blow as AstraZeneca cancelled a £450 million investment in a vaccine plant in Merseyside, amid concerns over promised subsidies. This setback came after failed attempts to attract major investments and job losses at companies like Lloyds Bank and Tesco, with criticism focused on national insurance hikes and new employment rights. Shadow business secretary Andrew Griffith criticized Labour’s handling of the situation, highlighting the impact of tax rises and regulatory changes on UK’s attractiveness for investment.

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