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UK officials have spent months in talks about the possibility of joining the bloc’s efforts. But they have concluded that taking part in an EU-led scheme could delay distribution of any vaccine in Britain by months and land the taxpayer with huge bills. EU officials face bargaining with pharmaceutical giants to try to secure supplies of potentially life-saving drugs.

A Whitehall source said: “The terms just weren’t right for us. We have our own plans in place, and the EU scheme wouldn’t allow the UK to do anything more than it currently is doing.”

Business Secretary Alok Sharma took the decision to opt out of the scheme yesterday.

And at 4pm today the Government will formally inform Brussels that the UK will not join the effort in a clear signal of independence following Brexit.

Whitehall sources said Mr Sharma was unable to get “sufficient assurance” that the UK will be able to get enough vaccine supplies quickly from the EU.

They insisted the decision “would not damage efforts” by the Government’s Vaccine Taskforce to secure a vaccine to help protect millions of Britons from the deadly virus.

Joining in the EU scheme would “complicate” UK efforts to secure a vaccine, ministers believe.

Under the scheme’s rules, countries involved could face a “volume ceiling” limit on the amount supplied.

Ministers are concerned that the rule could give EU countries preferential access over the UK following Brexit.

They also believe the Government is close to landing several deals with manufacturers that could be suspended if the EU were negotiating on behalf of the UK. Officials also argue that the supposed cost benefits of the EU scheme are “limited” as most pharmaceutical companies are offering similar terms and pricing to the UK as are on offer to other countries.

Under the scheme, the European Commission would have an exclusive right to negotiate with vaccine manufacturers on the UK’s behalf.

Yet being outside the bloc would deny the British Government a say over decisions about which pharmaceutical companies to negotiate with.

As a member of the scheme, the Government would also have to sign up to a series of conditions including forgoing the right to sign independent agreements or open separate negotiations.

The Government set up the Vaccine Taskforce, led by biotechnology expert Kate Bingham, earlier this year to boost the search for a drug to protect people from coronavirus. Ministers have already signed landmark agreements with the University of Oxford, pharmaceutical firm AstraZeneca and Imperial College London – backed up with £131million of Treasury funding – to accelerate research.

Oxford’s partnership with AstraZeneca means the UK will be the first country to receive access to the vaccine, should the joint research prove successful.

Scientists at Oxford University began human trials of a potential vaccine in April, while Imperial College trials started last month.

The Oxford team have said the jab could be available this autumn.

The Government has also invested up to £93million in a new Vaccines Manufacturing and Innovation Centre, currently under construction in Oxford.

The EU vaccine scheme is backed by an emergency £2.5billion fund plus loans from the European Investment Bank.

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