Fascinating visit to Vector Aerospace at Fleetlands, just over the border in the Gosport constituency, where hundreds of Fareham residents work.
An international company, Vector Aerospace in the UK employs over 1000 people, 850 of which work at Fleetlands, along with 30 apprentices. With an annual total payroll of £30m, the company is one of the global leaders in aerospace maintenance, repair and overhaul. It specialises in helicopter support, including maintenance, component replacement, system upgrades, laser alignment, flight testing and avionics modification. They work on aircraft transmissions, rotor heads and landing gear components for MOD helicopter programmes including Chinooks and Lynx helicopters. I was really impressed with the extent of service capability and ambition of Vector Aerospace. Local defence procurement companies like Vector Aerospace contribute a significant amount to the local economy through jobs and contracting services.
I was also pleased that the Secretary of State has confirmed that the government will be spending 2% of GDP on defence this financial year, in light of the threats from Russian aggression and rise of ISIL. Spending beyond that date will be determined by the spending review. Our commitments are to maintain the size of our regular armed forces, increase the equipment budget in real terms every year and replace our four nuclear ballistic submarines. Those commitments will secure the shape and power of our armed forces throughout this Parliament.