Aerospace firms call for R&D cash aid

UK aerospace companies have called for more Government funding for research and technology programmes. They also want more support for restructuring. ‘It is imperative that the UK Government, in partnership with UK industry, should maximise support for UK technology acquisition,’ says the Society of British Aerospace Companies (SBAC) in a report published last week. UK […]

UK aerospace companies have called for more Government funding for research and technology programmes. They also want more support for restructuring.

‘It is imperative that the UK Government, in partnership with UK industry, should maximise support for UK technology acquisition,’ says the Society of British Aerospace Companies (SBAC) in a report published last week.

UK aerospace companies spent £941m on research and development last year. More than 50% of this came from the companies themselves, compared to only 46% in 1996.

European help for technology purchases is available through the EU’s fifth framework programme.

But the UK is lagging behind the rest of the EU, with British companies losing out, the report says.

The SBAC also wants more EU support for companies when they restructure.

Up to September 1996, the US government provided $179m (£107m) out of total company restructuring costs of $849m.