Industry Minister Chris McDonald highlighted government efforts to support aerospace, defence, security, and space sectors during his speech at the ADS Annual Dinner. He emphasized the Modern Industrial Strategy, which prioritizes eight growth sectors, including the industries represented. Key initiatives include the British Industrial Competitiveness Scheme, set to cut energy bills for 7,000 businesses by 25% next year, and a £2.3 billion aerospace R&D programme. The British Business Bank will channel investment into scale-ups within priority sectors, including a £50 million fund for Epidarex and £50 million for IQ Capital. The Critical Minerals Strategy aims to meet 10% of UK demand through domestic production by 2035 and reduce reliance on single-country sources. McDonald stressed the government’s commitment to reducing barriers for these sectors and fostering innovation.
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https://www.gov.uk/government/speeches/minister-mcdonald-speech-at-ads-annual-dinner-2026
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