Transport Secretary Grant Shapps predicting Britain will overtake Germany to become largest economy in Europe by 2050
Britain will overtake Germany to become the largest economy in Europe by 2050, Transport Secretary Grant Shapps is predicting.
He said Brexit has given Britain ‘huge economic freedoms’ to boost growth and he said he is putting aviation ‘right at the heart’ of the Government’s mission to create Global Britain.
Confidence: Grant Shapps said Brexit has given Britain ‘huge economic freedoms’ to boost growth
Shapps said: ‘If we display a can-do attitude – if we think and act like more of an upstart nation, an Israel, a Singapore, a South Korea – then I think that Britain can become the largest economy in Europe by 2050.’
Plans to reboot the aviation industry include using 3D printing to make aircraft parts cheaply.
Investing in making jet fuel from waste will help Britain to lead the fight against climate change. Ministers estimate the green jet fuel industry could add £1.7billion to the economy each year by 2040 and create up to 11,000 UK jobs.
Prior to Covid the aviation sector was contributing £22 billion to the economy each year.