May to pledge £300m for UK aerospace to soothe Brexit fears
Airbus Group N.V.
€158.52
16:29 25/04/24
Prime Minister Theresa May on Monday offered an extra £300m to the aerospace industry to support new projects after companies like Airbus threatened to reduce activities in the UK because of Brexit uncertainties
Airbus Group
€157.75
19:00 18/10/22
Airbus Group Se
16,221.00p
16:30 25/04/24
Airbus Group Se
€157.05
16:30 25/04/24
CAC 40
8,016.65
17:00 25/04/24
Cboe Europe 50
17,524.12
11:45 01/12/20
Cboe Europe All Companies
51.12
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Cboe Europe All Companies ex UK
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Cboe Europe Industrials Sector
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Cboe Eurozone 50
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Cboe FR 40
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DJ EURO STOXX 50
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Last week Airbus issued another warning over a hard Brexit before May finalised her Brexit plans to present to the European Union. Tom Enders, the aerospace giant's chief executive, said the government was clueless on how to leave the EU without damaging the UK economy
“Brexit in whatever form, soft or hard, light or clean, whatever you call it, will be damaging for industry, for our industry and damaging for the UK, whatever the outcome will be," he said.
The government published its long awaited Brexit White Paper on Thursday which set out plans for common rules with the EU on trade in goods to avoid delays at customs points.
“By working closely together, government and industry have ensured we remain at the forefront of civil aviation and that our air power is second to none," May was expected to say, according to extracts of her speech released by Downing Street.
"Today I want us to build on that, and ensure not only that we retain our prominence, but that in an increasingly competitive industry we make the most of the opportunities that lie ahead."
The sector fears it will be paralysed if Britain leaves the EU customs union and the single market after Brexit since it generates turnover of about £60bn and supports almost a million jobs.
The government also said the UK’s first spaceport would be built on Scotland's north coast in Sutherland in the early 2020s.
Business Secretary Greg Clark was also expected to unveil a further £2m boost to open more spaceport launch sites in other locations across Britain.
(Writing by Frank Prenesti)