Rolls-Royce boss pushes for UK taxpayer support for new jet engine

Firm, which has announced record profits and 9bn share buyback, has 3bn project for smaller commercial planes

The chief executive of Rolls-Royce has pressed ministers for taxpayer support for a new jet engine, on a day the company also announced record profits and promised to give up to 9bn back to shareholders.

The 3bn engine project, designed to power smaller commercial planes, would allow Rolls-Royce to re-enter the lucrative short-haul flights market.