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£2bn investment for UK aerospace industry
9:00am Tuesday 19th March 2013 in Business
The aerospace industry and the Government yesterday announced a £2bn investment to keep the UK at the forefront of world manufacturing. The Government is investing £1bn and the aerospace industry is matching the amount. The money, which is being invested over a seven-year period, will be used to create a UK Aerospace Technology Institute. The institute will help to develop the next generation of quieter and more energy-efficient aircraft. It is estimated the investment will secure in the long term up to 115,000 jobs in the aerospace industry and its supply chain.