Aerospace Industry (Hansard, 9 July 2002)

HC Deb 09 July 2002 vol 388 cc865-6W 865W

§ Tony Cunningham
To ask the Chancellor of the Exchequer what steps he has taken to help alleviate the problems experienced by the aerospace industry since 11 September 2001. [68216]
866W

§ Dawn Primarolo
In Budget 2002, the Chancellor announced the extension of the R&D tax credits to all companies, following the introduction of an R&D tax credit for small companies in Budget 2000. The credit will be worth £400 million per annum. Aerospace manufacturers, which undertake 10 per cent. of the UK's R&D, will be significant beneficiaries of this measure.