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Dept of Trade and Industry

Answer

Mr. Hoyle: To ask the Secretary of State for Trade and Industry how much has been paid by her Department in launch aid in each year since 1997; how much has been repaid since 1997; and if she will make a statement on the effect of the aid on the creation of jobs. [212093] Jacqui Smith: The Government's continued support through Launch Investment (LI) has secured high value jobs in the most important civil aerospace programme in the UK. It has been estimated that the support since 1997 would generate and safeguard over 100,000 jobs over the life of the programmes on new civil aerospace programmes in the UK. These are long-term programmes (more than 30 years) and therefore the precise number of jobs generated and safeguarded would not be known for some time. The following figures are the payments and receipts for LI for the years 1997-98 to 2003-04 inclusive. £ million _________________________________________________________________________________________________. Financial year Payments Receipts 1997-98 57.9 123.1 1998-99 50 177 1999-2000 66.4 201 2000-01 52.6 147.8 2001-02 188.7 142.5 2002-03 258.2 108.2 2003-04 323.6 108.2 Total 997.4 1007.8 _________________________________________________________________________________________________.

Secondary information

Type

Written question

Reference

212093; 430 c930W

Session

2004-05

Subjects

Finance Government assistance Job creation Staff Aerospace industry

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk