Good afternoon,

I want to start with a moment of reflection. We are gathered in this grand location in London, surrounded by memories of wars. These places remind us of what we aim to prevent: military aggression in Europe.

These days, we commemorate the end of World War II, eighty years ago. Victory in 1945 was not only a victory of armies but also of factories. The Allies won the production battle, which led to winning the real war.

Today, preventing wars means having production power and brainpower. To stop Putin, we need to produce more and innovate more.

As the EUs Commissioner for Defence and Space, it is great to be here in London, just after the positive outcomes of the first EU-UK Summit, which includes a Security and Defence Partnership. This will help the EU and the UK restart cooperation on supporting Ukraine, security, and the defence industry.

Europe needs you. You are the biggest and best of Europes companies dedicated to defence, space, and security. We need you to ramp up production to deter Putin.

Our Blueprint to achieve this is the White Paper on Defence Readiness 2030, with three clear goals: supporting Ukraine, closing the capability gap, and strengthening the EU defence industry.

Our ReArm Europe Plan includes 800 billion euros extra for defence, with attractive loans and VAT exemption. This allows member states to jointly procure from the industries of the EU, Ukraine, Norway, and partners like the UK.

We will present proposals to cut bureaucracy and ease regulations for the industry. Innovation is key to fighting future wars. We need to not only bring in new technologies but also radically change how we develop and manufacture defence equipment.

The future largely depends on you. Our defence industry and innovators. We must work with Ukraine to learn lessons from their experiences.

In conclusion, this week brings new optimism thanks to the strategic partnership with the UK and the capabilities of our defence industry to outspend and outproduce Russia.

Thank you.