The UK Department for Business and Trade, via the new business, innovation, science and trade secretary Jonathan Reynolds, has set out plans to harness innovation and drive good growth in every part of the UK.
The support forms part of the new prime minister’s pledge to reindustrialise Britain and will help businesses in every part of the country develop cutting-edge new aerospace technologies, supporting innovation.
Previously the mayor of Greater Manchester, Andy Burnham assumed the role of prime minister after Keir Starmer lost his role as Labour party leader and Burnham became the Member of Parliament for Makerfield 18 June.
Burnham has unveiled a host of promises in a new 10-year plan for Britain, including packages for the logistics industry as relayed through Reynolds.
UK business, innovation, science and trade secretary Jonathan Reynolds said: “This government is laser-focused on bringing good growth to every corner of the country, and we’re wasting no time getting on with the job.
“Aerospace is one of Britain’s great industrial success stories. Partnerships like this show the power of bringing business and innovation together to harness our strong manufacturing base and cutting-edge research to support skilled jobs right across the UK.”
Reynolds also committed to a £600m package of support for the UK aerospace industry at the Airshow, including more than £500m for cutting-edge aerospace research and technology projects to pioneer greener air travel.
This is in addition to a new £100m Aerospace Supply Chain Fund to help ambitious suppliers scale up and meet the demand in a fast-growing and important industry.
Aerospace Technology Institute CEO Gary Elliott said: “The UK aerospace sector’s world-class innovation and manufacturing capability is being showcased at Farnborough this week.
“Today’s announcement reflects our commitment to keeping the UK at the forefront of aerospace technology, driving jobs, growth and competitiveness as we work to double the sector’s market value by 2035.
“These projects add to a balanced portfolio of investments that cement UK leadership in designing the future of flight.”
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