The government has today announced £4.5 billion in funding for British manufacturing to increase investment in eight sectors across the UK. The funding will be available from 2025 for five years, providing industry with longer term certainty about their investments.
- £4.5 billion for strategic manufacturing sectors including £960 million earmarked for clean energy
- Funding will be delivered to eight sectors key to economic growth, energy security, and levelling-up
- Part of wider government support to ensure UK is the best place to start, grow, and invest in manufacturing
Over £2 billion has been earmarked for the automotive industry and £975 million 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, the government has committed to £960 million for a Green Industries Growth Accelerator to support clean energy manufacturing, and £520 million for life sciences manufacturing to build resilience for future health emergencies and capitalise on the UK’s world-leading research and development.
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