"Leonardo owns Britain's last military helicopter manufacturing site, employing 3,000 workers, and was the only bidder for the contract. It is understood that the chancellor and prime minister chose to intervene to ensure the project would go ahead, in part to protect UK jobs."
"The Chancellor, Rachel Reeves, did not want the deal to collapse on her watch, because security and growth "were fundamentally connected", a Treasury source said. Leonardo's chief executive, Roberto Cingolani, has previously said the firm's future would be at risk if the deal was not approved."
The UK government is set to approve a £1 billion contract for military helicopters from Leonardo, an Italian company operating Britain's only military helicopter manufacturing facility in Yeovil, Somerset. Leonardo was the sole bidder for the contract and employs 3,000 workers at the site. The Chancellor and Prime Minister intervened to ensure the project proceeds, recognizing the connection between security and economic growth. Leonardo's leadership had warned that the company's future depended on contract approval. The deal was delayed but will now be signed off following the cancellation of a planned Defence Secretary visit.
Read at www.bbc.com
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