Barrow gets £200m boost from Chancellor’s defence sector investment
Barrow-in-Furness is to benefit from £200m of government investment in the UK’s defence industry.
Delivering her Spring Statement today (March 26), Chancellor Rachel Reeves outlined a range of measures to encourage growth and achieve sufficient fiscal headroom for the Government to deliver its policies.
This includes – amid rising international tensions brought on by Russia’s invasion of Ukraine – an increase in defence spending.
Ms Reeves told the House of Commons that the Government has pledged an extra £2.2bn for the defence sector this year, including a £400m protected budget to nurture innovation in technologies such as drones and AI-enabled systems.
Among the spending package, she announced funding for the Cumbrian town of Barrow-in-Furness, which plays a significant part in the naval capabilities of defence giant BAE Systems.
She said: “As defence spending rises I want the whole country to feel its economic benefits, so I will now set out the immediate steps that we are taking to boost Britain’s defence industry and to make the UK a defence industrial superpower.
“We will take forward our plan for Barrow, a town at the heart of our nuclear security, providing £200m supporting the creation of thousands of jobs there.”
Prime Minister Keir Starmer visited Barrow last Thursday when it was announced that its port will be granted royal status over its “unique contribution” to national security, bearing the title of the Royal Port of Barrow in recognition of its nuclear submarine building programme.
BAE Systems employs around 10,000 staff in its submarine yard in Barrow-in-Furness. delivering the Astute and Dreadnought submarine programmes for the UK’s Royal Navy that form the UK’s at-sea nuclear deterrent.
Last week Keir Starmer laid the keel to the first Dreadnought boat, which will replace the Astute-class boats, officially marking the start of construction.
The keel for the first nuclear-armed ballistic missile submarine was laid in Barrow in 1959, before its launch in 1960.
During his visit, the PM said: “Each and every person living and working in Barrow is contributing to our nation’s defence, whether that is building our world-class submarine programme, or supporting the workforce here through vital public services or proud family businesses.”
He said Barrow is a blueprint for how defence spending can boost communities up and down the country.
