The Defence Investment Plan and wars in Ukraine and Iran

The defence industry is waiting to hear what the future shape of the armed forces will look like and where the big bets will be in terms of investment, and that's not just equipment, that's infrastructure and support. Whilst the government has been putting out some smaller contracts, we are talking about something that sets out 10 years worth of spending and we've heard plenty of times from smaller companies who have basically got all of their eggs in the basket of a particular contract or competition who are waiting to hear, and some of them go out of business. The other thing is the political direction, and that is a signal to the public about the urgency of the issue, and to NATO partners and more broadly.