PwC has argued that the Autumn Budget creates political space for a more assertive approach to defence spending and modernisation, following the Chancellor’s decision to reaffirm a rise in defence expenditure to 2.6 percent of GDP by April.
Ian Hillier, PwC UK’s defence lead, said the commitment lands at a moment when Parliament has been warned that the UK’s industrial base cannot yet support sustained collective defence. In his view, strong public backing for increased military strength provides “license to be bold in making continued investments.”
Hillier also drew attention to the Chancellor’s plan to overhaul venture capital schemes to boost high-growth companies.
He noted that the United States and Germany already use venture capital-style procurement models to speed the adoption of emerging defence technologies, suggesting similar approaches could give the UK an advantage. “If the adoption of alternative private financing schemes can be applied to the defence sector, there’s an opportunity to put the UK’s considerable financial muscle to better use in pursuit of national security,” he said.
PwC’s recent Forces for Change research underpins that argument. According to the firm, two-thirds of the public now support strengthening the armed forces and believe improvements to the industrial base are essential. The findings add further pressure on ministers to match rising rhetoric on resilience with practical investment and reform.
Further detail can be found in PwC’s Forces for Change report here https://www.pwc.co.uk/industries/defence/insights/uk-armed-forces-public-survey.html.
‘In his view, strong public backing for increased military strength provides “license to be bold in making continued investments.”’
Strong public backing exists so long as you don’t suggest cutting other bits of spending.
This is the case no matter the topic. The public have strong support for the NHS, as long as it doesn’t involve them personally paying more tax.
I want a strong defence and I also want to be treated for cancer in a reasonable amount of time.
With no war to fight in Ukraine, the Russian focus will change, and NATO members better watch out. The minute power lines are blown, and pipelines are disrupted, the public will be fully behind additional defence spending regardless of nationality.
Well that’s a surprise so can PwC kindly tell “Rachel from accounts” that they are proper professional accountants and she needs to pull her finger out and let Mr Healey have some extra pennies to buy some new kit ! Oh and don’t let GDLS anywhere near it !