News

Defence Secretary announces Defence Prosperity Programme

Defence Secretary Gavin Williamson has announced plans for a Defence Prosperity Programme to improve the UK economy.

The Defence Prosperity Programme aims to boost the sectorтАЩs contribution to the economy and improve productivity. The measures were announced ahead of the Defence Prosperity Conference after last yearтАЩs review of the economic value of defence.

The July 2018 review was published by Phillip Dunne MP and found that the sector supports 260,000 jobs and around ┬г7billion in exports per year on average. The new plan includes investment in industry and new ideas as well as a hub for business and defence to share ideas.

Gavin Williamson said: тАЬOur world-class defence sector operates at the very forefront of innovation, supporting 260,000 jobs and increasing economic growth throughout the UK.тАЭ

тАЬThe MOD is playing a central role in the GovernmentтАЩs Modern Industrial Strategy and prosperity agenda, ensuring the UK remains a world-leader in defence technology in the years to come.тАЭ

The MOD will invest ┬г500,000 from the Defence Innovation Fund to start a collaboration programme with industry and will fund the Northern Ireland Department for Business, Energy and Industrial Strategy to create a Defence Technology Exploitation Programme estimated to be worth ┬г1.2million. They have also promised to collaborate with the Welsh Government on a DECA Advanced Manufacturing Research Institute.

The proposals also include plans for a Joint Economic Data Hub connecting Defence and industry from within the UK Defence Solution Centre. The hub will be overseen by an independent advisory panel and will collect and analyse data from across defence.

The MOD invested ┬г18.9billion in British industry in 2017-2018 supporting an estimated 115,000 jobs. It is hoped that the new measures will increase innovation in Defence and allow them to access new ideas and businesses.

If you would like to join our community and read more articles like this then please click here.

The post Defence Secretary announces Defence Prosperity Programme appeared first on Defence Online.

 

Who are we?

From publishing the first national directory of public sector contracts, to being the first to market with our online Tracker solution, we have been the true pioneers of technology and innovation in the public sector marketplace. Throughout our 39 years, we have continued to evolve and chart new territory тАУ placing our customers at the heart of everything we do. Take your business to the next level with Tracker now.

If you request a demo today!

Download your Free UK Defence Industry Report

Start Your Free Trial Today

Download your Free UK Defence Industry Report

Download your Free UK Defence Industry Report

When you sign up for a 3 day free trial or demo.

Limited time only

    BiP Solutions owns DCI and we look after your details carefully. We offer a range of products, services and events (some of which are free) that help buyers tender more efficiently and suppliers find, bid for and win public and private sector contracts. Only tick this box if you wish to receive information about these. We will never share your details with third parties and you will have the opportunity of opting out of communications every time we contact you. For further details, please see our Privacy Policy