§ Malcolm BruceTo ask the Secretary of State for Trade and Industry if she will make a statement on the funding of the Aerospace Launch Investment; and if she will break down the costs incurred by main budget head. [147805]
§ Jacqui SmithThrough Launch Investment partnerships the Government supports the design and development of civil aerospace projects in the UK. The information in the DTI's Departmental Report (CM 5916 published in May 2003) on the funding of the Aerospace—Launch Investment (page 85) indicates a working provision for 2002–03 of Payments of £258.2 million, Receipts (excluding Consolidated Fund Extra Receipt (CFER)) of £66.9 million and Total Receipts of £98.5 million. The actual outturn for 2002–03 was Payments of £258.2 million, Receipts (excluding CFER) of £80.7 million and Total Receipts of £109.5 million.
My Department is working closely with the industry in implementing the recommendations from the Aerospace Innovation and Growth Team (AelGT), which reported on 11 June 2003. The Government will continue to consider applications for Launch Investment in conjunction with exploring with Industry ways to attract more private sector finance. Further information on the AelGT can be found on the website of the Society of British Aerospace Companies at http://www.sbac.co.uk/aeigt/.