ADS responds to Chancellor's Comprehensive Spending Review
In a statement issued today, ADS addressed several aspects of the Review: “In a difficult environment the Chancellor (right) has given an unprecedented vote of confidence to the UK aerospace industry. Long-term funding for aerospace R&D will ensure our industry remains globally competitive and one of the most attractive locations for this high value and high skilled activity.
“With the market for new aircraft estimated to be worth $5.7 trillion during the next 20 years, a strong and competitive UK aerospace industry will help deliver prosperity and a more balanced economy.”
On Aerospace Technology Institute Funding:
“The UK’s aerospace industry will benefit from today’s Government decision to prioritise long-term funding for the Aerospace Technology Institute (ATI).
“The ATI, a successful initiative of the Aerospace Growth Partnership providing strategic focus and funding for aerospace R&D, is changing global perceptions of the UK as a place to invest.
“Today’s announcement will give UK industry confidence to continue investing in the stimulation of breakthrough technologies which lead to a larger share of the export market, higher productivity and deliver greater economic returns.”
On the Apprenticeship Levy:
“With more than 9,000 apprentices employed across the UK’s aerospace, defence, security and space industries, our sectors are at the forefront of providing high quality training and highly skilled, rewarding careers. Now that we have seen more detail on the Apprenticeship Levy, the government will need to consult closely with both small and large companies to fully understand the implications of implementing the new system and to consider how we can ensure industry and training providers can practically deliver the additional high quality apprenticeships our economy needs.”
On Funding for Innovate UK:
“Government grants for R&D help the UK compete globally for mobile R&D investment. Maintaining the budget for Innovate UK will send a strong signal internationally Industry will want to work with Innovate UK to understand how the shift to providing £165m in loans will be delivered to help businesses and enhance the UK’s global competitiveness.”
