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    Banking sector boost for London | Dyson cuts staff & Samsung hit with a strike

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    By News Team on July 10, 2024 Business, Business Briefing, UK News
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    Prime Minister Keir Starmer arrived in Washington

    Prime Minister Keir Starmer arrived in Washington overnight to attend the 75th summit of the Nato defence alliance.

    He is there to commit more money to defence spending to maintain stability in the markets. defence spending is crucial to world markets as it fuels one of the biggest industries in the world.

    On the plane, Starmer was keen to reassure the Defence industry as he told reporters the new government had what he called a “cast iron commitment” to spend 2.5% of national income on defence – but he is still refusing to say when that promise will be delivered.

    He is there to enhance the defence capabilities the UK will need in the future and what officials describe as “the roadmap” to reaching the funding target for defence of 2.5% of national income.

    The Chancellor Rachel Reeves steadies the ship here as she talks to industry about Labours vision for the future.

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