"The UK government will set out a new defence industrial strategy on Monday where it will launch a 250m fund to invest in five local economies which it hopes will create jobs and fuel growth. Defence Secretary John Healey will announce that Cardiff, Belfast, Glasgow, Sheffield and Plymouth will receive investment to expand each of the area's military and security industries."
"In June, the government published a strategic defence review which looked at the UK's military and security capabilities and made 62 recommendations to fill gaps and boost investment. Ahead of Healey's speech, the Ministry of Defence said: "Innovation and industrial power are central to deterrence and decisive factors in war. "The conflict in Ukraine provides a stark reminder of the imperative of the necessity for fast replenishment and resupply by industry, and a rapid, continual cycle of innovation between industry and the front line.""
The UK government will launch a 250m fund to invest in five local economies—Cardiff, Belfast, Glasgow, Sheffield and Plymouth—to expand military and security industries and create jobs. The government has pledged to lift defence spending to 2.5% of GDP by 2027 with an ambition to reach 3% within the next decade. The UK won a 10bn contract to supply the Norwegian navy with at least five Type 26 frigates to be built at BAE Systems' Glasgow shipyards. New deals will mirror the Barrow public-private partnership model and include local regeneration, housing and transport investment. A June strategic defence review made 62 recommendations to address capability gaps and boost investment. The Ministry of Defence emphasized industrial innovation and rapid replenishment, and industry estimates suggest up to 50,000 jobs by 2035.
Read at www.bbc.com
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