UK defence firms ready for No Deal

DEFENCE companies Meggitt and Babcock yesterday revealed the £15m cost of their preparations for a No Deal Brexit.

Aerospace group Meggitt has spent around £5m on stockpiling around a month’s worth of parts, and Babcock International will take a one-off £10m tax hit from restructuring its emergency helicopter business.

The prospect of a No Deal Brexit has fuelled fears that delays at ports would make it difficult for UK manufacturers to keep production lines going and export their goods.

Babcock said it has had to set up a new structure, including two new companies for each of the European countries where it operates emergency services helicopters, to keep flying following a No Deal Brexit.

Meanwhile, Eurostar dismissed fears that the cross-Channel train service would be hit by Brexit chaos.