Aerospace Industry: Finance

(asked on 18th December 2024) - View Source

Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, with reference to the press release of 14 November 2024 entitled PM boosts UK aerospace industry with £975 million to drive growth and jobs, how much of that funding will be spent in each of the devolved administrations.


Answered by
Sarah Jones Portrait
Sarah Jones
Minister of State (Department for Energy Security and Net Zero)
This question was answered on 7th January 2025

The Budget confirmed £975m over 5 years to the Aerospace sector, which will be delivered through the Aerospace Technology Institute Programme. UK based industry applications for R&D co-investment from the Programme enter a competitive process. Competition for funding is fierce and only the best projects are selected: those that offer real innovation, reduced emissions, and tangible UK economic benefits. As the Programme is industry led and competitive the budget is not pre-allocated to regions or devolved administrations.

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