By the Editor – Substantial change is upon us and it has consequence in terms of future investment in the security of UK waters. The author, Emeritus Research Professor at the London School of Economics and Director of the Cambridge Security Initiative Research Unit, proffers his thoughts on the consequence of the UK-EU Trade & Co-operation Agreement, including the critical investments required to assure sovereignty is upheld. This article is an updated version of an article first published in The Spectator Coffee- house, 17 December 2020, reflecting the final agreement between the UK Gove…