Foreign defence contractors awarded large contracts will be required to invest an equivalent value back into the UK under new rules announced by Wes Streeting.
The requirement will apply to foreign firms securing large defence contracts. It links the value of contracts awarded to overseas companies with a matching commitment to investment in the UK.
The announcement sets out a new approach to defence procurement, under which major awards to foreign contractors would carry an obligation to put an equal value into the UK. The supplied details do not specify how the investment will be made or how compliance will be assessed.
No further information on the timing of the rules, the size of contracts covered or the companies affected was provided. The policy announcement establishes the equal-value investment requirement for foreign firms winning large defence contracts.
