Question
Lord Jones
Labour
Life peer
Lords
To ask His Majesty's Government how much funding through research and development grants there was for the aerospace industry in (1) 2023–24, and (2) 2024–25.
Answered on
18 November 2024
HMG allocated £225m in 2023-24 and £195m in 2024-25 to support the aerospace industry. This funding primarily supports the Aerospace Technology Institute (ATI) programme, which co-invests alongside industry in research and development to maintain and grow the UK’s competitive position in civil aerospace and decarbonise aviation.
The Autumn Budget 2024 announced an extension to the ATI programme providing £975m of funding up to 2030.
Answered by
Department for Business and Trade