A worker assembles a new bike frame at the Pashley bicycle factory in Stratford-upon-Avon, Britain, June 30, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing Rights
LONDON, Nov 17 (Reuters) – Britain announced a 4.5 billion-pound ($5.59 billion) investment programme for key manufacturing industries on Friday, with the automotive sector taking up a large chunk of the funds to support the move to zero emission vehicles.
The finance ministry said the funds will be available from 2025 over the course of five years, with 2 billion pounds earmarked for the car industry, 975 million pounds for aerospace and 960 million for clean energy.
The plans form part of the Autumn Statement that finance minister Jeremy Hunt will present on Nov. 22, hoping to revive the fortunes of both a stagnant British economy and the governing Conservatives ahead of an election expected next year.
“Our 4.5…
