Tufan Erginbilgic said defence programmes “contribute to economic growth significantly” and more military investment “allows supply chains to be developed, allows labour skills to be developed”.
Rolls-Royce’s Mr Erginbilgic said defence programmes “help technology development in the country”, adding: “Developing sovereign capabilities for the UK will be even more important in this uncertain world.”.
The chief executive of Rolls-Royce has said a hike in UK defence spending will bring more jobs, grow the economy and help technology development in the country.
He has also battled with ongoing supply chain issues which have hampered Rolls-Royce’s financials in the years since the pandemic, which the company said would likely carry on for another year to 18 months.
His comments came as Rolls-Royce lifted its profit forecasts and said it would buy back about £1 billion of stock from investors, causing shares to soar on Thursday morning.
