£1 billion pumped into the defence supply chain
It has been announced that a further £1 billion is being pumped into the UK defence supply chain. The Australian Government has chosen BAE Systems to build nine British-designed warships for the Royal Australian Navy, valued at £20 billion. The agreement has been hailed as the biggest naval ship deal for a decade.
According to the MOD, the agreement “has massive potential benefits across the entire existing Type 26 supply chain”. Defence Secretary Gavin Williamson also highlighted that this supply chain has now seen an investment of more than £1 billion across more than 80 companies.