The Conservative party leader Kemi Badenoch has posted to X following the news that AstraZeneca has scrapped plans to invest £450m in its Merseyside plant.
Ms Badenoch said:
The grim reality is that Labour have made Britain a worse place to invest. As I said at PMQs, Labour have no idea how to create growth. They just make announcements.
Here’s what Labour did to destroy this investment:
1. They reduced the funding we originally offered
2. They took too long to make their (poor) decision, which meant the business case timelines were missed
3. The business case itself was significantly weakened by the rise in employer’s national insurance
I met AstraZeneca as Business Secretary last year. They were so excited by this investment, building on the Conservative govt's excellent record in pharmaceuticals especially vaccines.
It’s heart-breaking to watch Labour’s cluelessness. Every day their decisions make life worse for us all.
https://twitter.com/KemiBadenoch/status/1885388680866537828
AstraZeneca has scrapped plans to invest £450m in expanding a vaccine manufacturing plant in Merseyside.
AstraZeneca cancelled their plans just two days after Chancellor Rachel Reeves set out Labour's plan to go "further and faster" to boost economic growth.
AstraZeneca said that after "protracted" talks, a number of factors influenced the move, including "the timing and reduction of the final offer compared to the previous government's proposal".
You can read more on the BBC Website.
Tory MP James Cleverly also posted to X:
This is sheer incompetence by Rachel Reeves and the Labour government.
AstraZeneca ditches £450m investment in UK plant.
https://twitter.com/JamesCleverly/status/1885609536884490649
Jeremy Hunt also posted to X:
This is an absolute tragedy. The government have reneged on a deal I negotiated in 2023 and the UK has lost a factory and many jobs in one of our most promising industries. @RachelReevesMP should pick up the phone to Sir Pascal Soriot: if she believes in growth short term penny pinching cannot be the answer.
https://twitter.com/Jeremy_Hunt/status/1885368713882312841
