The government has announced a £2bn investment in the UK aerospace industry in order to keep aerospace technology as the UK’s “jewel in our crown”. Deputy Prime Minister Nick Clegg made the announcement during a visit to Airbus in Filton, Bristol where he said “The UK’s best technical experts can ensure we remain the world’s preferred supplier and continue to build and design the planes of the future – lighter, quieter, faster and more fuel-efficient.”
A new institute will be formed comprising of several major firms including Airbus and the aerospace division of Rolls Royce, who will manage the £2bn investment and provide around 115,000 jobs over the 7 year period. Business secretary Vince Cable, who chairs an aerospace business leaders’ group, said the seven-year commitment would “anchor the sector in the UK for a long time to come”.The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.Setfords Solicitors are a national full service law firm, with family law solicitors in Manchester and across the country.