Investing in sustainability
So, coming out of the pandemic with direct government funding, or support for sectors focused on a greener economy, there is an opportunity to stimulate the future rather than plugging a downside.
Sustainability projects will help the industry build back better and greener and have the potential to create up to 4,570 jobs across the UK.
During the pandemic, aerospace companies have been able to benefit from the government’s extensive business support measures including furlough, CBILs, and Bounce Back loans. The aerospace sector and its aviation customers are being supported with almost £11 billion made available through loan guarantees, support for exporters, the Bank of England’s Covid Corporate Financing Facility and grants for research and development.
For those companies facing potential scheduling volatility, now is the time to look at government investment.
But is there breathing space for businesses to make those investments before the ramp up comes, potentially in late 2023 or early 2024?
The challenge now is businesses might have cash pressures so to think about making investments when reducing workforce is conceptually difficult. Those with stronger balance sheets may be able to make those investments, which will yield efficiency improvements down the line.