New figures for the Aerospace, Defence and Space sectors show they are worth £6.4bn to the Scottish economy, with the rapidly growing space sector making the largest single contribution.
Confirmation that talks can start on transition and our future relationship with the EU is welcome progress, and industry now needs to see urgent agreement reached on transition arrangements.
The Welsh Government today published its "Prosperity for All" economic action plan, setting out a strategy to grow the Welsh economy and reduce inequality. ADS Chief Executive Paul Everitt said: "We welcome today’s publication of the Welsh Government’s economic action plan and especially the priority given to high value manufacturing."
This morning’s announcement that sufficient progress has been made for the next phase of Brexit negotiations to start will be welcomed by industry. However, agreement on a transition period of at least two years must be reached as soon as possible.
Bombardier announced today that it has been selected by Airbus as a supplier on a new engine nacelle programme for the A320neo family of aircraft. ADS Chief Executive Paul Everitt said: "Today’s announcement is welcome news for Bombardier’s factory in Belfast."
This week, BAE Systems has released a report with Oxford Economics on its contribution to the UK economy. ADS Chief Executive Paul Everitt welcomed this report.
ADS and Britain’s largest union, Unite, joined together today, to call for a ‘just’ settlement to Brexit negotiations that maintains cross-border partnerships and trade, while protecting investment decisions and high quality jobs.
Aerospace has been a trailblazer for industrial strategy in the UK, and today’s industrial strategy proposals are a welcome commitment from the Government to helping industry weather Brexit headwinds – but immediate support for UK supply chains should be a priority.
Deliveries of 87 single aisle and 33 widebody aircraft in October set a new record for the month and took year-to-date deliveries to a total of 1138. These deliveries are worth up to £2.4bn to UK industry.
ADS welcomed specific measures announced by Chancellor Philip Hammond on R&D tax credits and business rates. However, Office for Budget Responsibility forecasts for productivity growth have been revised down, highlighting the urgent need for decisive measures to support supply chain productivity growth.