IET responds to BEIS’ potential change to State Aid Rules

“Leaving the European Union gives us the flexibility to change our State Aid rules to improve the competitiveness of British engineering and technology firms.

“There should be a particular focus on supporting SMEs operating in key areas of the economy that are vital for our long-term prosperity, including digital technology and AI, sustainable manufacturing and transport, as well as ‘levelling up’ the geographical distribution of research and development incentives across the UK.

“We also call for a joined-up approach between State Aid legislation and public procurement to boost innovation and enable British technology businesses to thrive in a global economy.”

 

ENDS

About the IET

  • We inspire, inform and influence the global engineering community to engineer a better world.
  • We are a diverse home for engineering and technology intelligence throughout the world. This breadth and depth mean we are uniquely placed to help the sector progress society.
  • We want to build the profile of engineering and technology to change outdated perceptions and tackle the skills gap. This includes encouraging more women to become engineers and growing the number of engineering apprentices.
  • Interview opportunities are available with our spokespeople from a range of engineering and technology disciplines including cyber-security, energy, engineering skills, innovation, manufacturing, technology, transport and diversity in engineering.
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Media enquiries to:

Hannah Kellett
External Communications Manager
T: +44 (0)7725 498 129
E: hkellett@theiet.org

Sophie Lockhart
Senior Communications Executive
T: +44 (0)7872 844 422
E: slockhart@theiet.org