defence cuts

Armed Forces – the Nations’ All-Risk Insurance policy

Attending the incredibly moving Armistice Day Ceremony at Lloyds on Thursday (the insurance chaps, not the bankers…) got me thinking. Please take a look at the iPhone footage I took of this amazing event (about eight minutes long, including the Silence), in which the famous Lutine Bell is rung, and all trading stops.

A company cannot trade or prosper without insurance. The same is true of a country; for which the money it spends on defence is its ultimate insurance premium – and UK’s Armed Forces provide remarkable value for money, but not if the premiums are reduced as planned. London’s Lloyds, the world’s leading insurance market, honours Britain’s Armed Forces every Armistice Day, an acknowledgement of the price and value of security.

UK Carriers’ Shipbuilder Denounces Project as “Loony Tunes Disaster”

The deputy chairman of Babcock, builders of the RN’s two aircraft carriers, says Britain is paying twice as much as it should for the F35 aircraft, to get half the capability. He says this is because of BAE Systems being the prime contractor on the carrier project whilst also being Lockheed’s partner in making the F35 aircraft. Lord Hesketh says this is a disaster that will make Britain a laughing stock.

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