Ben Pykett, Market Senior Partner for PwC in Bristol, said:
“Today the Chancellor reaffirmed her commitment to raise defence spending, in line with the Government’s policy of military readiness.
“The cluster of aerospace and defence organisations in the South West is the largest in the UK, employing 40,000 people and worth £2.7bn to the regional economy. Its success is vital to the economic success of the wider region.
“For the South West, the opportunity lies in creating the conditions that will maximise the economic and social benefits of increased government defence spending. For example, our defence clients tell us about the workforce shortage in the sector, while one in five in Bristolians is economically inactive.
“Supporting people so that they don’t leave the workplace, and helping them back into work with relevant skills for the defence sector, would help drive productivity growth in the South West – and provide a vital contribution to national security.”
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