Bombardier
Debate between Baroness Vere of Norbiton and Lord Rogan
Baroness Vere of Norbiton
My noble friend is completely right. The Government firmly believe that the aerospace sector is one that we really need to be involved in. Wings are manufactured by Airbus and Bombardier, as we have heard. We have engines from Rolls-Royce, aerostructures from Spirit, Bombardier, GKN and Melrose, and advanced systems from Safran, UTC, Thales and GE Aviation. The total turnover of the aerospace sector is £33.5 billion. It supports direct employment of 124,000 people and indirect employment of 167,000 people. The average salary is £41,000 a year. We know that growth is coming in the sector. It is estimated that we will need 35,000 new large passenger aircraft over the next 20 years. They will be greener, quieter and more efficient. It is very important that the Government involve themselves in the sector and put their money into the right projects that need research, so that we can be a major part of creating those new aircraft.
Lord Rogan (UUP)
My Lords, I welcome the news that the Minister has been so proactive in this matter. As has been stated, it cannot be stressed too strongly how important the highly skilled jobs from Bombardier are to the Northern Ireland economy. As mentioned in the Statement, this year the Government invested more than £20 million in research into new projects and efficiency. This is a positive development. Would the Minister consider whether, by offering extra aid and finance, more jobs could be maintained?
Baroness Vere of Norbiton
My Lords, as I mentioned, there is a very significant pot that amounts to about £150 million a year. The Government are always open to hearing any applications from companies such as Bombardier for some of this money, on the understanding that it is for research and development. That of course includes jobs in those sectors. It is to make sure that those companies are fit for the future and able to take part in the global aerospace industry.