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UK aims to speed up defence contracts, finance minister says


  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. -up-defence-contracts-finance-minister-says.html
  Print publication without navigation Published in Business and Finance on by Reuters

British finance minister Rachel Reeves said she would speed up defence procurement, after the UK announced an increase in military spending last week in response to U.S. President Donald Trump's call for Europe to do more to protect itself.

The UK government is planning to accelerate the process of awarding defense contracts to enhance the nation's security capabilities, as announced by Finance Minister Jeremy Hunt on March 4, 2025. This initiative aims to reduce bureaucratic delays, ensuring that the military can quickly access necessary equipment and technology. Hunt emphasized the urgency of adapting to global security threats, particularly in light of ongoing conflicts and geopolitical tensions. The strategy includes streamlining procurement processes, increasing transparency, and fostering innovation within the defense sector. This move is part of a broader effort to bolster the UK's defense industry, support economic growth, and maintain strategic military readiness.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/uk/uk-aims-speed-up-defence-contracts-finance-minister-says-2025-03-04/ ]

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