00:00Well today we're establishing the Defence Office for Small Business Growth as part of our mission.
00:05To increase the amount of spend that the Ministry of Defence makes with small businesses across the country.
00:10We currently spend about £5bn a year and we want to increase that by 50%.
00:15To £7.5bn by 2028.
00:18Now that's a huge...
00:20That will create lots of jobs, lots of growth and make Britain stronger but to do...
00:25That we want to make it easier for small businesses to be able to interact with Defence.
00:30So we can procure faster and quicker and they can bring their products to market even faster as well.
00:35So it's the start of a process about making Defence more small business friendly...
00:40Making good jobs and growth and making sure that Defence is an engine for growth in every part of our country.
00:45Well we know we live in a new era of threat and we can see the dangers on our TV screens...
00:50Every single day.
00:51So bringing more resilience to our industrial supply chain is so important.
00:55Now an army and military is only as strong as the industry that sits behind...
01:00And as a government we want to direct more of our increasing Defence budget.
01:05At British companies, both large and small.
01:08And to do that we want to make it easier.
01:10For small businesses to sell their goods and services into Defence and so we can support...
01:15growth in our country as well as making our supply chains more resilient.
01:20Thank you very much.
01:21Thank you very much.
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