Funding from the government of £14.5 million has been awarded to Rolls Royce to develop a greener aircraft engine. The government claimed this could support about 8,000 jobs and generate £200m for the UK economy as reported in Insider Media Ltd.
It is hoped the project will contribute to the aerospace industry’s attempts to reduce fuel by 20% over the next 20 years. Danny Alexander (chief secretary to the Treasury) said: "The global market for low carbon and environmental goods and services is worth over £3tn. It will only get bigger. I want British firms to capture that market”.
