RTTNews - Monday, U.K.'s Business Secretary Lord Mandelson announced a GBP 151.5 million package to help manufacturers seize the opportunities provided by emerging technologies.
The funding is expected to expand manufacturers' access to information, encourage to take up new technologies and address specific challenges faced by the aerospace sector, the Department for Business, Innovation and Skills said.
This practical package of measures will help equip British manufacturers, of all sizes and sectors, to take advantage of the advanced technologies and new market opportunities now shaping our low carbon industrial future, Mandelson said.
It's about giving them the support they need to create jobs in Britain and export the best of British manufacturing design, technology, skills and innovation around the world.
It is good the government is recognizing the value of advanced manufacturing, and we hope this package of measures will spur the development of the U.K.'s hi-tech base, said Tim Bradshaw, the Confederation of British Industry's head of enterprise and innovation.
Rolls-Royce will get the bigger portion of the total funding, GBP 45 million. With the money, the aircraft-engine maker will set up four new advanced plants in the UK - three in aerospace and one civil nuclear - creating and sustaining around 800 jobs.
Adam Marshall, Director of Policy at the British Chambers of Commerce said, The Government's investment is a welcome boost for new technologies, particularly in aerospace, where the UK has a competitive advantage.
The BCC said growth in high-tech manufacturing and exports will only come together with a business environment that allows high-value manufacturing companies to thrive.
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