AG百家乐在线官网

Airbus could unlock frozen investments in Britain if Theresa May's withdrawal agreement is passed, the head of its UK business has told MPs.

Katherine Bennett said the France-based aerospace company had been in a "holding pattern" on UK projects amid uncertainty over a no-deal scenario.

But she told the Commons business select committee this could change if Mrs May's agreement with the EU - which faces a struggle to be passed by MPs next month - succeeds, even as future trading arrangements remain under negotiation.

Her comments came as MPs were told that firms in the wider sector were also putting investments on hold - or choosing other markets instead of Britain.

Please use Chrome browser for a more accessible video player

1:19

The prospect of Theresa May's deal yielding a boost to the UK economy came as Chancellor Philip Hammond argued that while Brexit will come at a cost compared to staying in the EU, that will be "very little" compared to the impact of no deal.

Airbus, which employs 14,000 people in the UK at sites including north Wales, Bristol, Stevenage and Portsmouth, said earlier this year that it would be forced to "reconsider its investments in the UK and its long-term footprint in the country" under a no-deal scenario.

Ms Bennett told MPs on Wednesday that Airbus had made no significant new investments or investment decisions in the UK in the past year amid the uncertainty over Brexit.

But asked whether the "holding pattern" would be extended as negotiations on future trade arrangements continue, Ms Bennett indicated that this would change should the withdrawal agreement pass.

"What we said is that if there is a chaotic Brexit or no deal, that is why our investments were put on hold," she said.

"If the withdrawal agreement is successful in some form or another then Airbus would consider continuing to invest as the company has done over many years.

"We have great capability, but obviously because of the uncertainty, which we want to see reversed, that is why investments have been put on hold."

Paul Everitt, chief executive of ADS group - the aerospace, defence, security and space industry body - also gave evidence to the committee.

He said the past year had seen high levels of activity in the UK amid growing global demand but that there had not been significant increased investment.

Mr Everitt said: "Those that had committed to invest prior to the referendum have continued with those investments.

"But those who have options have chosen to either hold and wait and see what happens or in some cases decided to put that investment into other markets or into capability in other territories."

Airbus has been one of the most vocal companies in terms of warnings about the possible impact of Brexit, while a growing number of firms have been warning in recent weeks against a no-deal scenario.

KitKat and Nescafe maker Nestle warned on Tuesday of the "very severe" consequence of such an outcome.