More than 160 companies supporting the defence sector have operations based in Wales, employing over 20,000 people.

Firms include BAE Systems, which has a munitions facility in Monmouthshire, and General Dynamics, which is constructing its AJAX armoured vehicles in Merthyr Tydfil.

On Thursday Jones and Drakeford visited Airbus’s complex on the outskirts of Newport, which provides security systems for the Ministry of Defence and other private companies.

The treasury minister is on a tour of the UK ahead of the spending review – a major announcement which will set out how the government allocates cash for public services.

Asked if Wales could benefit from the defence announcement the chief secretary to the Treasury, told BBC Wales: “Yes.

“Potentially we are spending more money on defence companies and defence technologies, which is a great opportunity for the UK economy, including here in Wales.”

He said there would be “plenty” of opportunities for businesses and workers at firms including Airbus.

“We’ve got the strategic defence review happening at the moment, the spending review will be concluded in June. Once we’ve done all of that, decided the strategy and the budget we will then just be getting on with spending that money.”