Last year was a record for foreign takeovers of UK companies, with 734 UK firms acquired by overseas buyers in 2021 —reflecting a 400% rise since 2015.

Bombardier and Cobham are among more than 200 UK aerospace manufacturers which have applied to come under the jurisdiction of regulators in other EU countries in preparation for a possible hard Brexit. Aircraft parts from the UK can currently be used across the EU if the country’s aviation regulator, the Civil Aviation Authority (CAA), has approved them.