Sector Focus 

Defence contractors sweat on review findings

Defence contractors sweat on review findings

The first duty of governmentis to afford protection to its citizens – but if it can do that on the cheap, so much the better. Since taking over as defence secretary from Sir Michael Fallon in November, Gavin Williamson has been engaged in a very public spat with the Chancellor of the Exchequer over the proportion of the state tax take destined for the Ministry of Defence (MoD). No surprises on that score – it’s a perennial debate at the heart of government – but the eventual outcome could have some unnerving effects for investors in the UK aerospace and defence sector.

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