Deterrence costs and we will all have to pay
There is a need to stop wishful thinking on defence expenditure
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Political pressure in response to public anxiety will demand policy responses
When financial and geopolitical waves collide
We are living in a ‘barbell’ world where international threat meets technological opportunity
There is method in the market’s madness
But it relies on a host of rosy assumptions going in investors’ favour
Britain needs a plan to invest in defence
Repeated delays are worrying partners and risk losing key technologies
Interest rates take fright
The market’s calm in the face of war is beginning to crack
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The sector remains untested in a severe or prolonged economic downturn