Spending Review 2020
Commenting on the Government’s 2020 Spending Review, ADS Chief Executive Paul Everitt said:
“The UK needs a strong economic recovery and our industries welcome the Government’s additional defence and security funding, support for green aircraft technology and flexibility for apprenticeship programmes.
“Greater funding is being made available to support R&D programmes and supply chain competitiveness next year. We look forward to working with the Department for Business to ensure this best supports the small businesses our sectors depend on and delivers increased investment through the Aerospace Technology Institute.
“Many supply chain companies are facing a struggle to survive. It is disappointing the Government has not chosen to offer long-term capital investment in supply chains, which would help minimise the loss of high-value jobs and skills, and sustain their ability to invest in future technology.”
Measures set out in the Spending Review and National Infrastructure Strategy include:
- As detailed by the Prime Minister last week, Defence will receive additional funding of more than £24bn in cash terms over four years, including £6.6bn of R&D.
- £21m provided towards the decarbonisation of aviation, through supporting sustainable aviation fuels and zero emission flight infrastructure, overseen by the Jet Zero Council.
- From August 2021, employers who pay the Apprenticeship Levy will be able to transfer unspent levy funds to small and medium sized companies, and the Government will introduce an online service to match levy payers with SMEs.
- Continued support to manage the challenges of the crisis, including funding for the Coronavirus Business Interruption Loan Scheme.