HC Deb 05 December 2002 vol 395 cc989-90W
27. Mr. Todd

To ask the Secretary of State for Trade and Industry if she will make a statement on the future of launch aid. [83630]

Alan Johnson

The Government have been and continue to be supportive of the aerospace industry in the UK. Since 1997 we have committed nearly £1 billion in Launch Investment (previously known as Launch Aid) for major new large aircraft and engine projects.

My right hon. Friend the Secretary of State for Trade and Industry announced on 16 May this year the establishment of the Aerospace Innovation and Growth Team (IGT), led by Sir Richard Evans. The IGT, as part of their remit, is considering medium to long-term strategic issues affecting the aerospace sector, including the future of Government support mechanisms. Sir Richard and his team are currently about halfway through their work and I expect the IGT to report by next spring with recommendations and an agreed action plan to take the industry forward.