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.
Aerospace manufacturers have enjoyed a strong week of orders for new aircraft at the Dubai Airshow 2017, promising a multi-billion pound boost to UK industry. Orders announced this week by Airbus, Bombardier and Boeing reached an estimated £9bn value to UK industry.
A Government commitment of £345m in the November Budget would secure private sector investment of more than £600m for initiatives supporting supply chain companies in the aerospace, defence, automotive, rail and civil nuclear sectors. High value industries like aerospace and defence can boost prosperity throughout the UK in the years ahead.
The Government has today announce the appointment of Gavin Williamson as Secretary of State for Defence. ADS welcomes his appointment and looks forward to working with him.
Aircraft production hit a Q3 record, with 354 deliveries, worth up to £7bn to UK industry. A total of 1,018 have now been delivered this year, just nine behind 2016's record at the same point in the year.
The National Audit Office has today published its report "Improving value for money in non-competitive procurement of defence equipment". ADS wants to see a more collaborative approach to procurement from Government in future.