Asked by: Earl of Minto (Conservative - Excepted Hereditary)
Question to the Department for Business and Trade:
To ask His Majesty's Government what assessment they have made of the impact of the decision by Rolls-Royce to consider moving its £1.6 trillion jet engine project and 40,000 jobs to America.
Answered by Lord Stockwood - Minister of State (HM Treasury)
Government, through its modern Industrial Strategy, is working with industry, including Rolls-Royce, to support its industrial ambitions to unlock growth and jobs in the UK.
Government is supporting the aerospace sector, including Rolls-Royce and its supply chain, through Aerospace Technology Institute research and development programme which has funding of up to £2.3 billion to 2035. The support awarded to Rolls-Royce is key to helping it develop its new UltraFan engine which, when realised, will secure jobs in the UK for decades to come.