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Government boost for aerospace manufacturing

The government has pledged to contribute £2 billion to a scheme to help the aerospace manufacturing industry create 115,000 much-needed jobs.

Sectors such as engineering are suffering from a lack of young talent, as initiatives are being proposed to encourage youngsters towards these more highly skilled sectors.

It is intended that such financial support will help to keep the UK competing in the industry on a level playing field with manufacturing giants like China and Japan. It is crucial because, as business secretary Vince Cable highlighted, the sector already supports more than 3,000 companies and employs 230,000 people in the UK.

The government has also pledged £500 million - which it plans to double with the help of industry funding by working in partnership with businesses - of extra financial support for other sectors where the UK has a global advantage, such as agricultural technology and automotive industries.

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Posted by Nikki BarristerADNFCR-1617-ID-801560496-ADNFCR

21/03/2013