Roundtable forms key part of Government's pro-growth approach and
Plan for Change.
Today (12 December), the Business Secretary and Minister for
Defence Procurement and Industry will hear from the defence
industry hosting a CEO roundtable on driving investment into the
sector. It will focus on navigating environmental, social and
governance (ESG) principles and how they can pose challenges to
growth and attracting investment.
We are delivering on our Plan for Change by driving investment
and reform to deliver growth. Today's roundtable will discuss how
to realise the economic potential of the defence sector, and
changing perceptions of it among investors – which is essential
to kickstarting economic growth and provide greater investment
across the UK.
Today's roundtable will bring together CEOs from some of the UK's
most prominent defence companies, as well as trade associations
for the UK's defence, financial services and manufacturing
sectors, with reps from major UK investment banks. This comes
just a week after the Defence Secretary launched the Government's
Defence Industrial Strategy – by inviting investors, innovators,
industry and trade unions to give their views on how to grow a
better, more integrated, more innovative and more resilient
defence sector.
It forms a key part of the Business Secretary's commitment to a
‘pro-growth, pro-business' approach, and working together with
industry to unlock investment into the UK's key growth sectors
and create high-quality jobs.
Business Secretary said:
Our world-leading defence sector is vital to the economy,
supporting thousands of high-skilled, high-paid jobs across the
UK. With our Industrial Strategy we're taking the pro-business,
pro-growth approach the sector needs to drive investment in every
part of the country.
This government is committed to working together with industry to
tackle the challenges they face to attracting investment, and
that's why roundtables like these are so important as we work to
give investors the confidence they need for years to come.
Minister for Defence Procurement and Industry said:
This government recognises the vital role of the defence sector
as an engine for growth, strengthening our security and
economy.
Only a week after the Defence Industrial Strategy consultation
launch, we are ramping up engagement with industry, working hand
in hand to tackle shared challenges and identifying opportunities
to innovate at speed. Our new Strategy will mobilise the private
sector to help face down global threats, direct more public
investment to British businesses and create jobs and growth in
every nation and region of the UK.
ADS CEO Kevin Craven said:
Our defence sector not only underpins our national security and
deterrence capability, but also provides jobs to more than
164,000 people directly throughout the country. For our sector to
continue to deliver the social value it is renowned for –
alongside its role as a key driver of economic growth –
government's engagement with industry is pivotal to strengthen
the UK's position as a place for defence companies to invest and
grow, and from which to export.
ADS welcomes the progress made by this government so far, and
industry looks forward to seeing the results of our continued
dialogue in securing UK advantage in an increasingly unstable
geopolitical environment.
The Government has identified defence as one of eight UK growth
sectors its upcoming Industrial Strategy will prioritise for
driving investment, supporting the Plan for Change
ambitions. This is an important opportunity for the Business
Secretary to hear from industry leaders on the challenges they
face.
He will also seek views on how the Government can work together
with them to help boost investment and tackle challenges such as
access to finance, invest-ability and reputation.
Full list of roundtable attendees:
-
, Secretary of State
for Business and Trade
-
, Minister for Defence for
Procurement and Industry
-
Kevin Craven, CEO, ADS
-
Bob Wigley, Chair, UK Finance
-
Andrew Kinniburgh, Director General, Make UK Defence
-
Adam Forgiel-Jenkins, Government Relations Director, BAE
Systems
-
John Howie, Chief Corporate Affairs Officer, Babcock
-
Miles Celic, CEO, City UK
-
Rebecca Richards, Deputy CEO, Rheinmetall VSI
-
Nicola King, Co-Head of Geopolitical Advisory, Rothchilds
& Co
-
Rob Hales, Managing Director, James Fisher Defence
-
Michael Pascall, Head of Industrials and Services, Barclays
Bank
-
Adam Forgiel-Jenkins, Government Relations Director, BAE
Systems
