UK complacent about war threat, warns defence boss

An important development from the financial markets: UK complacent about war threat, warns defence bossImage source, Getty ImagesBySimon JackBusiness editorPublished26 minutes agoThe UK has been too complacent about the risk of foreign attack, the boss of Europe's biggest defence contractor BAE Systems has warned. Dr Charles Woodburn told the in an exclusive interview that the level of threat was the highest he'd seen in his lifetime. He welcomed the recent boost to defence spending but said much more would be needed to hit the government's commitment to spend 3.

5% of GDP on defence by 2035. He also warned we were not far from the use of autonomous lethal weapons by countries that may not follow the UK's policy of maintaining human control. In a rare interview, Woodburn told the the reality of modern warfare had "changed quite profoundly" and that UK defence spending had to change with it.

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He said Russia and Ukraine had become "incredibly adept" at using autonomy in the form of drones and counter drones. "It's something that we now have to really understand and make sure that we're able to provide the capabilities that can counter that and deter aggression," he said. Image source, Getty ImagesImage caption, BAE Systems unveiled a model of Brontanax, an uncrewed Collaborative Combat Aircraft at Farnborough International AirshowBAE Systems unveiled a life-size model of an unmanned fighter jet in front of the new defence secretary Wes Streeting at the Farnborough International Air Show.

Four of these so-called Collaborative Combat Aircraft will accompany a manned fighter to massively increase firepower but at just 20% of the cost of a piloted aircraft. However, Woodburn said there was still a role for the traditional battleships and submarines that BAE has been manufacturing for decades. "If you look at what our adversaries are building, they're also building significantly large platforms - aircraft, ships, submarines.

And they're supplemented by some of these unmanned capabilities. " It is the combination of the two that has the "winning" formula, he said. It is hardly surprising that the boss of a defence company would like to see more defence spending.

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But Woodburn said the UK had been complacent for some time about the level of threat it faced - particularly from Russia. "This is by far the most threatening time I've seen," he said. "Even when I joined the company in 2016 I was amazed at what we saw Russian submarines doing, the cyber attacks.

I think that's come a long way sadly as a result of the Ukraine conflict we're much more aware of the proximity of a hot war in Europe. "Image source, Getty ImagesImage caption, Dr Charles Woodburn CEO of BAE Systems, speaks at Farnborough International AirshowThe war readiness of the UK's armed forces has been questioned by senior armed services figures and openly mocked by the US general Sir Gwyn Jenkins, the First Sea Lord, recently said the navy is not ready for war.

Economists are analysing what the news means for the markets.