UK Defence and Economic Growth CEO Taskforce

In response to a changing global context, the Confederation of British Industry (CBI), together with knowledge partners Oliver Wyman, and with support from the Chancellor of the Exchequer, Rachel Reeves, and Secretary of State for Defence, John Healey, have mobilised financial services and defence industry leaders to form the Defence and Economic Growth Taskforce. The Taskforce is made up of CEOs across defence and financial services, with additional support from the Secretariat, PA Consulting, and ADS

About the Taskforce

This Taskforce will recommend how, through targeted actions by both government and industry, the UK can maximise this opportunity to drive growth and productivity alongside building priority defence capability and will bring forward recommendations for government to support other ongoing initiatives such as the Spending Review and refresh the Defence Industrial Strategy.

Designed to complement existing efforts, the Taskforce focuses on near-term opportunities to:

• Improve international competitiveness and attractiveness of defence-related companies
• Deploy UK defence spending as an economic force multiplier
• Mobilise trusted private sector investment
• Guide finance to shape a UK defence supply chain that is resilient and aligned with government priorities

"In these turbulent times, the government is right to position the defence sector as a key engine of growth pivotal to ensuring our national and economic resilience.
Increases in defence spending bring benefits to UK investors, manufacturers, and the supply chains that are routed in our regional communities. While the spillover effect from investment in rapid technological advancements will drive innovation that can deliver huge benefits back into the British economy.
I am delighted to be involved in this taskforce and its work to ensure that the government’s commitment to increased defence spend translates into an opportunity to not only grow the UK’s defence and security capability, but to also drive sustainable economic growth across the country.”

“The UK Defence Industry will play a critical role in our society, protecting our values and promoting peace.

Creating the conditions for accelerated capital flows to defence and dual-use technologies will drive growth across national supply chains and foster innovation across the economy.

The co-creation of recommendations to mobilise the right combination of public, private, and institutional capital will be key to unlocking wider security, resilience, and growth objectives.”