Theresa May moves to see off Brexit threat to Britain’s aerospace industry with funding boost
2 min read
Theresa May will today pledge extra cash for Britain’s aerospace industry, after a leading firm warned that Brexit uncertainty could cost thousands of UK jobs.
Last month aviation giant Airbus said a no deal Brexit could force the company to relocate its operations, putting 14,000 UK workers at risk.
But Mrs May will today move to allay fears of an aerospace exodus, saying her Brexit plan will secure millions of British jobs in the sector.
In a speech at the Farnborough Airshow the Prime Minister will also pledge an extra £300m in funding for new projects, including research into environmentally-friendly aircraft.
She will say: "By working closely together, government and industry have ensured we remain at the forefront of civil aviation and that our air power is second to none.
"Today I want us to build on that, and ensure not only that we retain our prominence, but that in an increasingly competitive industry we make the most of the opportunities that lie ahead."
Mrs May will also insist that her latest Brexit plan will protect the supply chains big aerospace firms depend on.
And she will set out how the UK could remain part of EU bodies crucial to the sector’s future, such as the European Aviation Safety Agency.
ADS Group, which represents the UK aerospace sector, welcomed the Prime Minister's comments, saying they represented a "strong statement of intent" that would reassure the industry.
The organisation’s chief executive Paul Everitt said: "The international political, military and business leaders visiting Farnborough will be reassured by last week's Brexit White Paper and are keen to hear more about the UK's post-Brexit ambitions."
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