Rolling coverage of the latest economic and financial news The UK’s blue chip FTSE 100 index has opened slightly lower this morning, down 0. 3% – but some of its biggest defence stocks are rallying amid excitement that a former defence secretary now occupies No 11. Babcock International is up 4%...

Source: [Guardian World](https://www.theguardian.com/global/live/2026/jul/21/burnham-cuts-vat-electricity-bills-uk-borrowing-debt-economy-news-latest)

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