￡360 million to boost British manufacturing and R&D

The Chancellor yesterday (4 March) announced a significant investment package in the UK’s life sciences and manufacturing sectors.

• Chancellor to announce significant funding package for R&D and manufacturing projects across the life sciences, automotive and aerospace sectors.
• ￡92 million joint government and industry investment to expand facilities to manufacture life-saving medicines and diagnostics products.
• ￡200 million joint investment in zero-carbon aircraft technology to develop a more sustainable aviation sector and almost ￡73 million in automotive technology.
• Follows the Advanced Manufacturing Plan to give the industry the long-term certainty to grow and invest in the UK, backed by ￡4.5 billion of targeted support announced at Autumn Statement to boost the British manufacturing sector.

Ahead of the Spring Budget this week, the Chancellor Jeremy Hunt has announced a significant investment package in the UK’s life sciences and manufacturing sectors, as part of the government’s plan to grow the economy, boost health resilience and support jobs across the UK.

The funding will go towards several companies and projects who are making cutting edge technology in sectors key to economic growth and part of wider government support to ensure the UK is the best place to start, grow and invest in manufacturing.

Read the full government press release here: ￡360 million to boost British manufacturing and R&D - GOV.UK (www.gov.uk)