Coming home, no wings but still a payer
BAE plans to sell its stake in Airbus, raising as much as 3 billion pounds. So when do you think BAE will return the 33% of the original launch investment, back to the UK tax payer?
Within the provisions of the Civil Aviation Act 1982. In 2000 the government announced a launch investment partnership to support the wing for the Airbus A380.
Hansard 13 Mar 2000 : Column: 9W
Mr. Steven Byers: I am pleased to announce that the Government have just entered into a partnership with BAe Systems to secure UK participation in the Airbus A380 project, to design and build the wings for the world's largest passenger jet. The Government will invest £530 million in the programme, with BAe Systems investing over £1 billion in design and development alone. The Government investment will be repaid by BAe Systems paying levies on aircraft sales.
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Within the provisions of the Civil Aviation Act 1982. In 2000 the government announced a launch investment partnership to support the wing for the Airbus A380.
Hansard 13 Mar 2000 : Column: 9W
Mr. Steven Byers: I am pleased to announce that the Government have just entered into a partnership with BAe Systems to secure UK participation in the Airbus A380 project, to design and build the wings for the world's largest passenger jet. The Government will invest £530 million in the programme, with BAe Systems investing over £1 billion in design and development alone. The Government investment will be repaid by BAe Systems paying levies on aircraft sales.
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posted by Anoneumouse at 7:45 am
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