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The Aerospace Business Leaders group, chaired by the Secretary of State for Business, Innovation and Skills, Vince Cable, and the Aerospace Growth Partnership group (which I chair) bring Government and business together to take action to stimulate growth in aerospace, boost exports and grow the number of highly skilled jobs available in the UK. This work involves some 80 senior business people from the aerospace sector, supported by eight full-time business secondees, and BIS officials addressing what needs to be done to maintain UK's competitiveness and achieve growth in areas such as research and technology, manufacturing capability, supply chain effectiveness, external engagement and skills.
As part of this work we announced, in the March Budget statement, £60 million of new funding to create a UK virtual centre for aerodynamics. It will pull together existing research and modelling capabilities into a coherent centre, with a small programme team, that will encourage increased investment to fund a programme of work to ensure the UK is a competitive leader in this field.
More widely, the Government are supporting business investment in both the product and manufacturing technologies that the Aerospace Growth Partnership has identified as important to best position the UK for future growth. For example, on
Aerospace companies are expected to benefit from other more general support provided by the Department such as the £125 million Advanced Manufacturing Supply Chain Initiative and £2.4 billion Regional Growth Fund.
We are working closely with business to promote the attractiveness of the aerospace sector as a career choice to ensure that we have the future skills needed to deliver growth. As part of this work, the aerospace sector is actively participating in the See Inside Manufacturing programme, with a range of activities where aerospace manufacturers are opening their doors to schools and young people. The sector is also active in the Make it in Great Britain (MiiGB) campaign.
A large number of Ministers will be attending the Farnborough International Air Show in support of UK business and BIS is supporting Futures Day at the show on