The Government enjoy a strong partnership with the aerospace sector through the Aerospace Growth Partnership. Since 2010, the sector’s turnover has grown from £24 billion to £34 billion, and exports have almost doubled. Following the excellent and wholly justified ruling of the United States International Trade Commission on Friday night, I am delighted that Bombardier in the hon. Gentleman’s constituency will be able to look forward to a bright future.
Hear, hear! I was overjoyed on Friday night when Bombardier unanimously won its case with the United States International Trade Commission. In paying tribute to the Secretary of State and to the Minister responsible for the aerospace industry, I ask that they stand resolute against any appeal that may be lodged and ensure that the C Series, now that it is finally ready for take-off, is the true success we know it can be.
I will indeed. I pay tribute to the hon. Gentleman for the stalwart in which he and his colleagues stood up for their constituents and, indeed, the supply chain that covers the whole United Kingdom. Right from the beginning, this has been a joint endeavour between us, the Canadian Government, the company and everyone with an interest in the success of Bombardier.
Does my right hon. Friend agree that the future of our space and aerospace industries is key to our economic future and that practical measures like the new Space Industry Bill will open up new opportunities?
I do indeed. Space is one of the fastest-growing sectors of the economy, and we are world leaders in it. Through the Bill, we will ensure that we have the right regulatory regime to underpin that.
Since the aerospace sector requires long-term planning and investment, does the Secretary of State not share my alarm at the threatened takeover of the leading tier 1 supplier GKN by a turnaround company specialising in maximising shareholder returns over five years maximum? Is this not a national security issue?
The right hon. Gentleman is a previous occupant of my post, so he knows that the powers that the Secretary of State has over these things have to be exercised in a quasi-judicial way. Therefore, I should not, and cannot, comment on that case. However, he will know, because he has written to me, that I have spoken to both chief executives, and I am keeping it under close review.
It is good to hear my right hon. Friend talk about the importance of aerospace. Will he consider the aerospace initiative that is being proposed in Kinross-shire in my constituency as part of the Tay cities deal, and will he or other colleagues meet me to discuss it?
My colleagues and I will be very happy to meet my hon. Friend to develop the full potential of aerospace in his constituency.