UK to Ramp Up Defence Procurement Amid Geopolitical Tensions

British finance minister Rachel Reeves announced plans to expedite defence procurement, responding to geopolitical challenges. Reeves emphasized reducing red tape and increasing collaboration with small companies. This move follows PM Keir Starmer's defence spending pledge, highlighting the UK's strategy to strengthen its defence capabilities and support domestic industries.

In response to rising geopolitical tensions, British finance minister Rachel Reeves has pledged to accelerate the UK's defence procurement process.

According to Reeves, the government aims to reduce bureaucratic hurdles and increase support for small and medium-sized enterprises in the defence sector. This initiative follows a recent commitment by Prime Minister Keir Starmer to boost defence spending.

Industry leaders have welcomed the move, emphasizing the need for simpler contracts to foster innovation and collaboration with smaller firms. The upcoming Strategic Defence Review will outline further strategies for the UK's defence priorities.

(With inputs from agencies.)