A|D|S reacts to budget

“We welcome the Chancellor's focus on recovering from recession and investing in our industrial future, especially his focus on encouraging exports, supporting trade and discouraging protectionism as well as his warm words for advanced manufacturing, especially aerospace,” said Ian Godden, Chairman of A|D|S. “His recognition that economic growth is the key to our recovery and reducing borrowing is encouraging and the sectors that we represent can deliver the goods in this regard.

“The British aerospace, defence and security sectors are number one in Europe and second only to the US globally. They can deliver on the Chancellor's aim to generate long-term prosperity for Britain. There is considerable room for growth in the export markets for these successful sectors that would contribute to the recovery from recession and deliver a sustainable industrial future with many additional jobs. For example a recent study by Oxford Economics has shown that an additional Government investment of £100m in defence would deliver an output of £227 million. That investment would also bring about an estimated additional 1,885 jobs.

“We will shortly be publishing manifestos for each of the four world-leading sectors that we represent to demonstrate to the political parties in the run-up to the General Election what we can deliver for the country in terms of jobs and added value to the economy providing current and future Governments deliver the correct climate in which they can prosper.”

On support for SMEs Godden said: “Small and medium sized businesses are the lifeblood of the economy and this is no less true in the aerospace, defence and security sectors. Therefore, as the national voice for aerospace, defence and security SMEs, we welcome the investment support for SMEs that the Chancellor mentioned in his speech. Small firms are the source of innovation that drives the UK's success in these areas. For example, in defence alone the UK has more SMEs than France, Germany, Italy, Spain and Norway combined and this provides the agility and innovation that has secured for Britain the role of Europe's leader in these sectors. Helping small firms to invest in plant and machinery plus increasing Capital Gains tax relief are welcome and additional investment in skills will help smaller firms in particular.”

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