Tim Wright

Each year, the nine nuclear-armed nations spend a combined total of more than US$100 billion on their nuclear forces – assembling new warheads, modernizing old ones, and building ballistic missiles, bombers and submarines to deliver them. Much of this work is carried out by private corporations, which are financed by a vast web of financial institutions around the world.

In 1964 Serco was awarded the first ever private contract for managing a British military site - the maintenance of the UK Ballistic Missile Early Warning System at RAF Fylingdales. This was a radical move in 1960s Britain, where nationalised industries and state control of "vital" sectors such as defence was the expected norm. This pioneering approach to exploiting the market in public services was well ahead of its time.

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