UK defence firms ‘bleeding cash’ as delayed spending plan leaves industry in ‘paralysis’

Industry groups say delay to defence investment plan (DIP) leaving UK behind in global race for funding

Defence manufacturers are going bust while others have been left in “paralysis” and “bleeding cash” as they wait for a long-delayed UK military spending plan for the next decade, MPs have heard.

Industry groups said that a more than six-month delay to the defence investment plan (DIP) has also left the UK behind Germany and the US in attracting cash from global investors.