Question

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the effect of foreign ownership of UK-based companies on productivity in the aerospace sector; and if he will make a statement.

Whilst no assessment has been made of the impact of foreign ownership in the aerospace sector on productivity, ONS labour productivity statistics from Q4 2014 show that productivity in the transport equipment sector, which includes aerospace, has been strong relative to the rest of the economy both before and after the financial crisis[1]. Since 2008, output per hour in the sector has grown at a rate of 5% per year. This was the highest rate of growth of any sector in the economy.

[1] ONS (2015) Labour Productivity, Q4 2014

http://www.ons.gov.uk/ons/rel/productivity/labour-productivity/q4-2014/stbq414.html