Defence Minister Fox on the U.K.s Strategic Defence and Security Review

Here is a transcript of the speech given by the U.K. Defence Minister Liam Fox yesterday at Chatham House in London. The speech sets out comprehensively the goals and achievements of the U.K.'s Strategic Defence and Security Review (SDSR) completed last October and aimed at restructuring the British Ministry of Defence to take into account current and future threats while reducing costs.

Minister Fox states, "The SDSR has ensured that we will remain in the premier league of military powers. It is not an agenda for retrenchment; it's an ambitious agenda for transformation over time. It is not an agenda for the next general election; it's an agenda for the next generation."

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