Thu, 17 Jul 2014The government will invest £154m in development of the next generation of quieter, faster and more environmentally friendly aircraft, announced Deputy Prime Minister Nick Clegg at the Farnborough Air Show.

“I want to ensure the UK remains at the cutting edge of aerospace innovation, which is why I am pleased to announce that we are investing £154m for research to explore new technologies like the 3D printing of plane parts and creating lighter, greener aircraft,” said Clegg.

“By working in partnership with business, we are building a stronger, more balanced economy, creating more jobs and sharing the wealth equally.”

Clegg added that small and medium enterprises are able to bid for a share of a £50m pot from October to create jobs in the supply chain so local communities can benefit even further when big companies like Rolls-Royce and Airbus open factories in their region.

The funding is part of a £2bn investment to help secure more than 100,000 skills jobs in the long term.