The new UK government on Tuesday invited Canada to join the delayed Global Combat Air Programme (GCAP) — a UK-Italy-Japan stealth fighter project — as an observer, marking the programme’s first expansion beyond founding members. The move targets an early defence win as European allies push to reduce reliance on US weapons and military technology. Markets treated the development as supportive for defence names; UK defence stocks rose Tuesday.

2026-07-21

The new UK government on Tuesday invited Canada to join the delayed Global Combat Air Programme (GCAP) — a UK-Italy-Japan stealth fighter project — as an observer, marking the programme’s first expansion beyond founding members. The move targets an early defence win as European allies push to reduce reliance on US weapons and military technology. Markets treated the development as supportive for defence names; UK defence stocks rose Tuesday.