Written questions by Baldwin.

What assessment he has made of the potential impact of the Autumn Budget 2024 on the advanced manufacturing sector.

Advanced Manufacturing is vital to UK prosperity. The Autumn Budget awarded over £2.5bn towards advanced manufacturing, including £16m to continue the Made Smarter digitalisation programme for SMEs, £2bn towards the automotive sector, £975m to aerospace, and £520m for Life Sciences. Shortly before the budget, Advanced Manufacturing was announced as one of eight growth-driving sectors that will feature in Invest 2035: the UK’s modern industrial strategy. A targeted Advanced Manufacturing Sector Plan is currently being developed in partnership with business, devolved governments, regions, experts and a range of stakeholders. The Industrial Strategy will be published in spring 2025, aligned with the multi-year Spending Review.

What assessment he has made of the potential impact of Autumn Budget 2024 on the aerospace sector.

The Budget confirmed £975m over 5 years to the Aerospace sector. This provides continued stability and confidence for industry to invest in long-term R&D projects – delivering economic growth, supporting high skilled jobs across all parts of the UK, and advancing aviation’s net zero transition. Between 2013 and 2030, industry and government will invest over £5bn developing transformational aircraft technology. Long-term R&D co-investment is a core pillar of the Aerospace Growth Partnership’s 2022 strategy, where the UK sector committed to invest at least £20bn of further private investment to 2040 and abate 125 MtCO2 of UK attributable global aviation CO2 emissions.

What assessment he has made of the potential impact of Autumn Budget 2024 on the automotive sector.

The Budget’s announcements represent a vote of confidence in our automotive industry, enabling future jobs and growth.Over £2bn of capital and R&D funding to 2030 will support the latest research and development, accelerate commercial scale up, and unlock capital investment in zero emission vehicles, batteries and the wider supply chain.In addition, Government is investing £200m in 2025-26 to expand electric vehicle (EV) chargepoints, £120m for new electric van grants, and strengthening consumer incentives by widening the differentials in Vehicle Excise Duty First Year Rates between EVs and hybrids vs. internal combustion engine cars.