New Delhi: The U.K. government will invest £975 million over the next five years to support the aerospace industry, Prime Minister Keir Starmer said Friday. The funding will be used to extend the Aerospace Technology Institute (ATI) Programme, which aims to accelerate innovation, create jobs, and support the sector. The government’s investment will provide long-term confidence for the U.K. as a place to invest in cutting-edge aerospace technology, a UK press release stated.
The investment will support thousands of highly skilled jobs across the U.K., particularly in aerospace centers like Broughton, Filton, and Derby. Bidding for funding opens in January; projects start in the fall, the release added.
Starmer’s announcement came during a visit to Wales, which has one of the largest aerospace clusters in the world, employing more than 20,000 people. The prime minister also confirmed £49 million worth of aerospace projects in Wales.
“Growth is the defining mission of this government, and our investment will drive forward the future of the aerospace industry in Wales,” Starmer said. “Working in partnership with the Welsh Government, backed by the largest ever Budget settlement, we are determined to deliver the jobs and opportunities that will make working people feel better off.”
First Minister Eluned Morgan welcomed the news, calling it “another in a succession of job announcements for Wales this autumn.”