Farnborough Aerospace Consortium reaction to Budget

David Barnes FAC
David Barnes FAC

David Barnes, chief executive of the Farnborough Aerospace Consortium (FAC), said: “We very much welcome the reduction in duty for internal flights.

“Our airlines and airports employ many people and this will help boost them as regional hubs.

“Unfortunately the Chancellor has felt the need to increase the duty on longer haul flights which will impact on those who rely on doing business over long distances, and on companies that operate in long haul sector.

“Another announcement which we welcome is that R&D spending will rise to 1.1 per cent of GDP.

“The Chancellor vowed to make the country a ‘science and technology superpower’ and within aerospace this is what we want to hear.

“Of course we will have to see the details before we know exactly how the Budget will impact our members.

“But after 18 months of real difficulty within the industry due to Covid and lockdowns around the world, the Chancellor has given us a degree of hope.

“It is our conference next month and I’m sure these issues will be much discussed by our members and those attending.”

 

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