Budget reaction: "More detail needed over defence spending plans"

More detail is needed before the impact of today's Budget can be known on the UK's defence sector, according to one leading south coast business.

It comes after the government announced an increase in defence spending, but with more details to be shared next year.

Andrew Barnett, managing director of Fareham firm Barnbrook Systems and chair of the South Central Regional Defence & Security Cluster (SCRDSC), said: ‘The devil will be in the detail of many of the measures in the Chancellor’s first Budget.

‘Investment in hydrogen technology direct from government could be of benefit if the procurement process is also streamlined, while more money for mayoral investment is promising but only when devolution reaches those areas yet to reorganise.

‘The underlying commitment to defence and the pledge to full fund the Defence Investment Plan was positive along with great collaboration with NATO partners on defence spending and exports although more clarity is needed.

‘Overall, trading remains very difficult for SMEs and more work needs to be done to provide the necessary support and funding to give them the means and confidence to invest and grow.’