UK Chancellor of the Exchequer, Rachel Reeves, has announced plans to expedite defense procurement following last week’s commitment to a substantial increase in military spending.
Speaking at a conference for British manufacturers, Reeves emphasized the government’s intention to reduce bureaucratic obstacles in the defense supply chain to accelerate the delivery of essential equipment. She also noted the importance of learning from the rapid actions taken to provide weapons to Ukraine.
“Innovation often comes from small businesses, from startups, especially those at the intersection of technology and defense,” Reeves said, highlighting that more defense contracts will be opened to small and medium-sized companies.
Her announcement aligns with Prime Minister Keir Starmer’s pledge on Monday to set spending targets within the Ministry of Defense, encouraging collaboration with smaller businesses.
“I want to make sure that when we spend more on defense, it is used to support British jobs and British industry,” Reeves added.
While Reeves acknowledged that the UK will still need to purchase some weapons abroad, she stressed that efforts are underway to help British defense companies expand their capacity and meet the challenges posed by the current geopolitical climate.
