The Government is announcing £4.5bn in funding for British manufacturing to increase investment in eight sectors across the UK. Funding will be available from 2025 for five years, providing industry with longer term certainty about investments. The Government is earmarking over £2bn for the automotive industry and £975m for aerospace, supporting the manufacturing, supply chain and development of zero emission vehicles, and investment in energy efficient and zero-carbon aircraft equipment.

Alongside this pledge, the government has committed to £960m for a ‘Green Industries Growth Accelerator’ to support clean energy manufacturing, and £520m for life sciences manufacturing to build resilience for future health emergencies and capitalise on the UK’s world-leading research and development. The announcement arrives ahead of the second Global Investment Summit taking place this week.
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