Grant Shapps – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Grant Shapps on 2016-09-15.

To ask Mr Chancellor of the Exchequer, if he will take steps to boost economic incentives for research and development in the aerospace industry.

Mr David Gauke

In recognition of the valuable contribution the aerospace industry makes to the UK economy, the Government is providing almost £2 billion for aerospace research and development, having extended support at Autumn Statement 2015 until 2025-26. This funding is matched by industry, and is helping drive world-class research in the UK. This sits alongside economy-wide R&D tax incentives, including R&D tax credits – which in 2014-15 supported £21.8 billion of R&D expenditure.