Full speed ahead: maintaining UK excellence in motorsport and aerospace - Business, Innovation and Skills Committee Contents

8 Conclusion

201.  The motorsport and aerospace industries represent two sectors where the United Kingdom has an exceptionally strong global presence. They are two of the crown jewels of UK manufacturing and form a core part of the UK's higher value-added economy. The Government must ensure that the correct public policy framework is in place to promote their future growth.

202.  The Government's role in support of the aerospace sector is to enable the industry to compete on an equal footing with its international competitors. Other countries actively support and promote their aerospace industry through the provision of financial support, access to trade credit and funding for R&D work. The UK Government must ensure that the level of support it provides industry does not place the British aerospace sector at a disadvantage.

203.  We are concerned that the strength of motorsport in the United Kingdom is due more to serendipity than active government policy. This needs to change. The first step in ensuring that we do not lose this valuable industry is the establishment of a motorsport industry unit within the Department. Failure by the Government to provide a more proactive approach to the industry risks the United Kingdom losing its global leadership.

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