BAE Systems chief executive Charles Woodburn has warned that Britain's defence spending "falls well short" of what is needed to protect the country, describing the current climate as "the most threatening time" he has ever seen.
Speaking to the BBC, Woodburn highlighted advances made by Russia before and during its illegal war on Ukraine. The Government announced plans to boost defence spending by an extra £15 billion in June, but then Defence Secretary John Healey resigned over inadequate military funding.
Extra funding 'falls well short'
Woodburn told the BBC the extra funding still "falls well short of what is needed to protect the country". He added: "This is by far the most threatening time I’ve seen. Even when I joined the company in 2016 I was amazed at what we saw Russian submarines doing, the cyber attacks."
"I think that’s come a long way, sadly, as a result of the Ukraine conflict, we’re much more aware of the proximity of a hot war in Europe," he said.
Modern warfare 'changed profoundly'
BAE's boss told the BBC modern warfare had "changed quite profoundly". He described Russia and Ukraine as becoming "incredibly adept" at the use of drones and counter-drones. "It’s something we now have to really understand and make sure we’re able to provide the capabilities that can counter that and deter aggression," Woodburn said.
Shares in BAE Systems rose by 3.25%, with other defence companies also seeing a rise following the appointment of Mr Healey as Chancellor on Monday. There are expectations he will commit to further defence spending. BAE's chief exec said: "The fact that he understands the requirements of defence we see as a very positive thing."
Need to make case for increased spending
Woodburn said there was a need to make the case for increased defence spending and that deterring a war is cheaper than waging one. This week, BAE Systems announced the Ministry of Defence has given it a contract extension worth £708 million to continue developing a next-generation combat aircraft.
Defence Secretary Wes Streeting said the investment in advanced combat air technology for the UK Armed Forces will strengthen Britain's defence and deterrence. He added that it shows the Government's clear commitment to backing British workers with defence investment, creating jobs and supporting communities across the UK.
