Tufan Erginbilgic, CEO of Rolls-Royce, emphasized that increased defense spending, including a rise from 2.3% to 2.5% in the budget, will enhance economic growth by developing supply chains and labor skills. This investment could lead to significant job creation within the UK through military programs like submarines and warplanes. Despite different estimates from political leaders about the actual budget increase, the importance of developing sovereign capabilities amidst global uncertainties was underscored. General Lord Richard Dannatt also supported this commitment to bolster defense spending given current geopolitical threats.
"More military investment will allow supply chains to be developed and labour skills to be honed, thereby contributing significantly to economic growth in the UK."
"Developing sovereign capabilities for the UK will be even more important in this uncertain world, helping to drive both jobs and technological advancements."
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