Defence secretary says Britain must manufacture at scale as Germany’s Rheinmetall opens Midlands factory

For the last 20 years, Britain was unable to put a barrel on its tanks without buying from abroad. Relying on foreign allies seemed like a reasonable choice during years of relative security (for wealthy countries at least) after the end of the cold war.

But Russia’s full-scale invasion of Ukraine in 2022 has changed the calculation – and prompted a scramble to rearm among European countries, including the UK.

Premium paid over French counterparts has risen to almost £30 a megawatt hour, analysis by lobby group finds

British steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices.

The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour (MWh), its highest level in three years, according to analysis by the lobby group UK Steel.