Arms trade profits subject to sweeping new reviews

‘Rules on the profits made by defense companies will be scrapped and replaced following a fresh wave of negotiations, in a move which some say will redefine the relationship between the British state and the arms industry.

The new Single Source Regulations Office (SSRO) – a Ministry of Defence (MoD) initiative which began in January – is expected to do away with existing guidelines on how arms companies profit.

“The world has changed since 1968 and we need to start looking at things differently,” Jeremy Newman, chair of the SSRO, told the Financial Times.’

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