Displaying items by tag: defence industry

The UK is nearing a pivotal defence and trade agreement with the EU that could grant British arms companies access to a €150 billion European defence fund. In return, Keir Starmer’s government appears ready to concede on fishing rights - an issue that has stirred strong domestic opposition. The arrangement includes freezing fishing quotas and moving to a multi-year deal, rather than annual negotiations, in exchange for wider EU market access for UK defence firms. Critics argue this trade-off risks sacrificing the UK fishing industry’s post-Brexit gains. The National Federation of Fishermen’s Organisations has labelled the deal 'neocolonial’, with significant UK quotas already owned by foreign boats. Still, the economic contrast is stark: defence exports total £14.5 billion annually, compared to £1.7 billion in fish sales. The summit on 19 May is expected to formalise broader EU cooperation, including defence partnerships, dynamic alignment on food standards and emissions, and a debated youth mobility scheme. Starmer insists these moves are strategic steps toward global stability, security, and economic resilience amidst growing international challenges.