Rolls-Royce

Lord Houghton of Richmond Excerpts

Wednesday 14th October 2020 Lords Chamber

[Lord Callanan (Con)]

I know my noble friend feels strongly about these matters. The unions are involved in the aerospace growth partnership, which is our main method of engaging with the UK aerospace industry, and we continue to have regular dialogues with Unite and other unions.

[Lord Houghton of Richmond (CB)]

In the aggregated context of the retention of advanced manufacturing jobs, the pursuit of clean energy, sustainability targets, the Government’s future energy White Paper and the expertise of Rolls-Royce in small modular nuclear reactors, what plans do the Government have to help Rolls-Royce realise its potential as a key contributor to our future national energy requirements?

[Lord Callanan (Con)]

The noble Lord has correctly predicted that the energy White Paper will be out shortly to provide more details on these schemes. We are extensively supporting Rolls-Royce. It has received £300 million from the Covid corporate financing facility, it has made extensive use of the job retention scheme for almost 5,000 employees, and we are providing it with large amounts in R&D support from the £26.8 million in grant funding for research activities. We think Rolls-Royce is a key company for the future of the UK, and we are supporting it extensively.