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News - 6 October 2014

Portsmouth naval dockyard secures multi-million pound deal.

BAE systems in Portsmouth have been awarded a £600million contract as part of the "second biggest defence contract placed by this Government", according to Defence Secretary Michael Fallon.

First Sea Lord Admiral Sir George Zambellas said: "These significant contracts represent a strategic investment in the Royal Navy's essential infrastructure.

Mr Fallon, former Minister for Portsmouth, said: "Following the £3.5bn Scout armoured vehicle contract, this is the second biggest defence contract placed by this Government and reflects our commitment to giving our Armed Forces what they need to keep Britain safe."

Lavinia Newman, Founder of ABDS and a business strategist comments:
“This contract will help secure more than 2,000 jobs at Portsmouth and is a welcome relief after 1,700 shipbuilding jobs were lost last year with the ending of all naval construction at Portsmouth.”

 Two other naval dockyards also benefit from this contract, Faslane Naval Base on the Clyde and Devonport Naval Base in Plymouth. MoD chief of defence material Bernard Gray said: "The three naval bases in the UK play a vital role in the defence of this country and in the economic well-being of the regions in which they are located."

John Hudson, maritime managing director at BAE Systems, said of the Portsmouth investment: "This is an exciting time for everyone at the naval base.

"Working together, we will prepare the naval base for the arrival of the UK's Queen Elizabeth Class aircraft carriers and continue to use our ship design and build knowledge to support the surface fleet in service."

However, Shadow defence secretary Vernon Coaker said: "Workers at Devonport, Faslane and Portsmouth will welcome the fact that existing and previously proposed contracts will continue there. But what we need are long term decisions based on the country's defence needs, not cynically-timed announcements and made-up news for political ends."

For those who are looking for a more personal approach on a range of individual and business related issues, contact us at ABDS.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

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