In These New Times

Despite being the world’s leading arms trader, it is still, seemingly, not enough. What more can we do to help struggling defense contractors?

Jonathan Browning

Aug. 26 (Bloomberg) — BAE Systems Plc Chief Executive Officer Mike Turner warned that U.K. lawmakers aren’t giving enough priority to defense, the Financial Times reported, citing an interview with Turner.

Investment in defense projects is lacking, the newspaper cited him as saying. Such investment is needed if the U.K. wants to continue to “have say in the world,” Turner said, according to the FT.

There is no prospect of BAE moving its headquarters to the U.S. as long as the U.K. defense budget “stays at a reasonable level,” Turner, who retires on Aug. 29, told the FT. If priorities are low in terms of defense spending, “you would have to be concerned about that,” the newspaper cited him as saying.