§ 30. Mark TamiTo ask the Secretary of State for Trade and Industry what measures the Government are taking to support the expansion of the aerospace industry. [76450]
§ Alan JohnsonThe Government have been and continue to be supportive of the aerospace industry in the UK. Since 1987 we have committed nearly £1 billion in launch investment for major new large aircraft and engine projects and provided some £20 million per year for civil aerospace research and demonstration. As large investors in R&D, aerospace companies will also benefit from the tax credit scheme for larger firms announced in the last Budget.
We are conscious of the strong competition faced by the industry, however, and 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, led by Sir Richard Evans. This will enable the key stakeholders to work together to produce a shared vision and strategy for the future success of the industry. Sir Richard and his team are currently about half way through their work and a great deal of effort, from industry, Government and other organisations, is being put into the process. I expect the IGT to report by next spring, with recommendations and an agreed action plan to take the industry forward.
§ Dr. CableTo ask the Secretary of State for Trade and Industry what percentage of total turnover exports accounted for in the United Kingdom aerospace industry in the financial years(a) 1998–99; (b) 1999–2000 and (c) 2000–01; and if she will make statement. [77900]
§ Ms HewittThe percentage of total turnover accounted for by exports in the UK aerospace industry is shown in the table. Data are sourced from the Society of British Aerospace Companies, but unfortunately, are not available on a financial year basis. Therefore, calendar year figures are supplied:972W
Export percentage 1999 60 2000 60 2001 63