House of Commons · Written Ministerial Statement
Advanced manufacturing update
04 March 2024 · Treasury
Proposed by Gareth Davies Con Grantham and Bourne
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The government announces significant investments in UK advanced manufacturing to secure highly-skilled jobs and build economic strength.
- The Chancellor increases Green Industries Growth Accelerator funding by up to 120 million and allocates 975 million to the Aerospace Technology Institute programme.
- A 50 million apprenticeship growth sector pilot is launched to boost training in high-value manufacturing and engineering fields.
Issue summary
The government has announced significant investments in UK advanced manufacturing projects aimed at securing highly-skilled jobs and building economic strength.
Action requested
The Chancellor is increasing the Green Industries Growth Accelerator (GIGA) funding by up to £120 million, expanding supply chains for clean energy sectors, and allocating £975 million from Autumn Statement 2023 to the Aerospace Technology Institute programme. The government also outlines a £50 million apprenticeship growth sector pilot to boost training in high-value manufacturing and engineering fields.
Key facts
- Over £360 million of joint government and industry investment announced.
- Almost £73 million for zero emission vehicle technology projects.
- Nearly £200 million for energy efficient and zero-carbon aircraft technology projects.
- Around £92 million for life science manufacturing projects.
- Up to £120 million increase in GIGA funding.
- £4.5 billion investment announced at Autumn Statement 2023 for five years from 2025 in strategic manufacturing sectors.
- £975 million allocated to the Aerospace Technology Institute programme.
- £50 million apprenticeship growth sector pilot to boost training.