Trio of European states set up new fund to boost defence spending
UK, Netherlands and Finland join forces to reduce procurement costs through economies of scale
UK, Netherlands and Finland join forces to reduce procurement costs through economies of scale

Discussions failed after UK refused to pay billions of euros in fees

European Commission cuts cost by two-thirds to €2bn but figure is still far above the €75mn Britain has offered

Funding for five deals across Britain aims to boost local economic growth

Industry executives say key aim is to secure European funding as well as contracts with governments

Fund’s research tempers claims by European governments that bigger military budgets should revitalise their economies

Continued co-production is vital to maintain innovation and preserve the security of the EU and the US