Bulletin

Government outlines support for aerospace sector

Vince Cable yesterday revealed how £80m of a £2bn funding pot pledged jointly by business and government to support the aerospace sector will be spent. The projects include £14m for research projects using McLaren's Formula 1 expertise to develop gearboxes for jet engines, and £9m to create aircraft whose hydraulic systems are replaced with lighter electric ones. A further £20m is being channelled into skills to help fund apprenticeships in the sector, and masters degrees for engineers. The announcement came at industry trade body ADS's annual dinner, where the association heard a warning about withdrawal from the EU. Sir Brian Burridge, vice-president of ADS and a senior executive at Finmeccanica UK, urged the industry to play a role in keeping Britain in the European single market.

 

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