Lord Bilimoria (CB)

My Lords, as the chair of the International Chamber of Commerce UK, I am absolutely delighted with the defence industrial strategy. Back in 2019, we debated the 70th anniversary of NATO. I was the only Peer in that debate who said that our defence expenditure should be 3% of GDP, rather than 2% as it then was. I am delighted to see that the strategy says that we are going to go up to 3.5%. Does the Minister agree that, sadly, with the world that we live in now, it will probably need to go up to 5% very soon? The strategy is very good, but it does not talk about global strategy. I am co-chair of the India All-Party Parliamentary Group. Given our skills that the Minister spoke about, is there not an opportunity to partner with countries such as India, which has defence manufacturing as a priority, to our benefit as well? The Minister spoke about skills. What about universities? As a former chancellor of the University of Birmingham, I have seen first-hand the power of business and universities working together. There is huge potential here for defence. Finally, on defence procurement—which the noble Baroness, Lady Goldie, spoke about—should it not be compulsory for everyone in defence procurement to be qualified through the Chartered Institute of Procurement & Supply, which is headquartered here in the UK?