Two days ago, executives at BAE Systems and VT Group got the call they had been anxiously awaiting for more than six months. The Ministry of Defence was committing to a manufacturing contract for two aircraft carriers for the Royal Navy.

The tidings, delivered by Amyas Morse, the commercial director at the MoD, meant that BAE and VT could at last finalise a longed-for joint venture that would combine the shipyards into a single British champion. An announcement is expected in the next 10 days, with the contract signed before the end of June.