Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has made an assessment of the potential effect on the level of jobs in the aerospace sector of establishing a long-term supply chain investment fund to recapitalise suppliers that are unable to take on new debt.

The Government is providing various support measures to safeguard jobs in the aerospace sector from the impact of Covid-19, including the Coronavirus Business Interruption Loan Scheme and the Coronavirus Large Business Interruption Loan Scheme. The British Business Bank has also created an online Finance Hub, which details sources of business finance that may be available, as well as useful guidance.

The aerospace sector and its aviation customers are being assisted with around £9 billion of funding made available through loans, research and development grants, loan guarantees, and support for exporters. The Government continues to support the long-term competitiveness of the UK’s aerospace supply chain through the Aerospace Growth Partnership.

The Government will continue to work closely with local authorities, businesses, and business representative organisations to understand the impact of Covid-19 on the aerospace sector.