Days after Rachel Reeves highlighted life sciences as UK strength, firm decides against site expansion

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AstraZeneca has cancelled plans for a £450m expansion of its manufacturing plant in Speke, Merseyside, blaming a cut in the funding on offer from the government.

Only two days after Rachel Reeves highlighted life sciences as a key UK strength, in a speech setting out her plans to kickstart economic growth, the company said it had decided to pull its investment.