Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBabcock Share News (BAB)

Share Price Information for Babcock (BAB)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 532.00
Bid: 535.00
Ask: 536.00
Change: -21.50 (-3.88%)
Spread: 1.00 (0.187%)
Open: 568.00
High: 568.00
Low: 532.00
Prev. Close: 553.50
BAB Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UK's Labour Party aims to boost defence spending to 2.5% of GDP

Fri, 12th Apr 2024 08:00

LONDON, April 12 (Reuters) - Britain's opposition Labour Party would aim to raise defence spending to 2.5% of GDP "as soon as resources allow", its leader Keir Starmer said on Friday.

Speaking to the i newspaper, Starmer said defence was "the number one issue for any government" in a world where international threats have risen and the situation was "more volatile" than it had been for many years.

"On defence spending, obviously we want to get to 2.5% as soon as resources allow that to happen," he said.

He also committed to Britain's nuclear deterrent, the Trident-submarine based missile system which has a continuous at sea presence at a cost of billions of pounds.

"In the face of rising global threats and growing Russian aggression, Labour’s commitment to our UK nuclear deterrent is total," Starmer will say later on Friday on a visit to Cumbria, northern England where the submarines are built.

Should Labour win the election, there will be a review of defence and security spending, Starmer told the i newspaper, to make sure the priorities are correct and try to tackle waste in procurement.

Starmer's position is in contrast to Labour's previous leader Jeremy Corbyn, who opposed Britain's Trident nuclear weapons system.

The Conservatives, traditionally seen as the party more likely to spend on defence, promised in March that defence spending would grow to 2.5% of GDP "as soon as economic conditions allow", up from the current level of around 2.2%.

Trident costs about 3 billion pounds per year to run and the cost of the new submarine fleet, set to be operational from the early 2030s, is expected to be 31 billion pounds.

(Reporting by Sarah Young; Editing by Kate Holton)

More News
10 Nov 2021 09:30

LONDON BROKER RATINGS: Four banks positive on Oxford Nanopore

LONDON BROKER RATINGS: Four banks positive on Oxford Nanopore

Read more
10 Nov 2021 08:48

LONDON MARKET OPEN: ITV up on record ad revenue forecast; M&S shines

LONDON MARKET OPEN: ITV up on record ad revenue forecast; M&S shines

Read more
10 Nov 2021 08:23

LONDON BRIEFING: M&S shares jump 16% on raised profit outlook

LONDON BRIEFING: M&S shares jump 16% on raised profit outlook

Read more
9 Nov 2021 16:22

Babcock-led partnership awarded 100m gbp electronic warfare contract

(Sharecast News) - The Ministry of Defence has awarded a £100m contract to a consortium of firms led by Babcock to "deliver cutting-edge electronic warfare systems to the Royal Navy".

Read more
4 Nov 2021 07:08

UPDATE 3-Nordic fund KLP excludes 14 weapons companies on ethical grounds

(Adds Dassault Aviation comment)By Victoria KlestyOSLO, Nov 4 (Reuters) - Norway's largest pension fund KLP said on Thursday it would no longer invest in 14 major weapons makers and their suppliers, including Raytheon Technologies Corporation and ...

Read more
4 Nov 2021 07:08

UPDATE 2-Nordic fund KLP excludes 14 weapons companies on ethical grounds

(Adds Babcock comment)By Victoria KlestyOSLO, Nov 4 (Reuters) - Norway's largest pension fund KLP said on Thursday it would no longer invest in 14 major weapons makers and their suppliers, including Raytheon Technologies Corporation and Rolls-Royc...

Read more
4 Nov 2021 06:00

Nordic fund KLP excludes 14 weapons companies on ethical grounds

OSLO, Nov 4 (Reuters) - Norway's largest pension fund, KLP, said on Thursday it would no longer invest in 14 major weapons makers and their suppliers, including Raytheon Technologies Corporation and Rolls-Royce.The companies, based in Britain, Chi...

Read more
21 Oct 2021 10:18

Babcock International first half in line; completes Frazer-Nash sale

Babcock International first half in line; completes Frazer-Nash sale

Read more
21 Oct 2021 07:54

Babcock revenues rise as Frazer-Nash sale completed

(Sharecast News) - British defence company Babcock International maintained annual guidance as it reported a rise in first half revenues.

Read more
14 Oct 2021 09:42

LONDON BROKER RATINGS: Jefferies cuts Johnson Matthey to Underperform

LONDON BROKER RATINGS: Jefferies cuts Johnson Matthey to Underperform

Read more
24 Sep 2021 11:27

UK CMA launches inquiry in Babcock oil & gas aviation sale to US's CHC

UK CMA launches inquiry in Babcock oil & gas aviation sale to US's CHC

Read more
16 Sep 2021 16:02

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
15 Sep 2021 16:03

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
14 Sep 2021 09:38

LONDON BROKER RATINGS: Barclays downgrades BHP; Berenberg cuts ITM

LONDON BROKER RATINGS: Barclays downgrades BHP; Berenberg cuts ITM

Read more
13 Sep 2021 17:04

LONDON MARKET CLOSE: Stocks rise as OPEC boosts oil; AB Foods sinks

LONDON MARKET CLOSE: Stocks rise as OPEC boosts oil; AB Foods sinks

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.