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

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to row nine of the table on page 39 of the BEIS 2018-19 Main Estimate Memorandum, if he will publish a breakdown of spending on Launch Investments.

The £157.3m credit shown under Launch Investments Capital DEL is the estimated income due to be paid to BEIS in the 2018-19 financial year from its various Repayable Launch Investment contracts. These investments were to enable the design and development of new civil aerospace products. These are long-term investments where income is received, in some cases, over several decades.

Since 2000, we have invested over £1 billion and have received £2.1 billion in levies or royalties due from products sold. We cannot provide a breakdown of the individual investments, as the details are commercially confidential between the parties. The current portfolio has a future income valued at £1.047 billion as of 31 March 2018 (HC 1214 - BEIS Annual report and accounts 2017/18 page 174).