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Baroness Smith of Newnham (LD)

Speaking in the House of Lords on 4 June 2025

Debate

Denial of Banking Services: UK Defence Sector

Contribution

My Lords, apart from ESG questions, there are wider questions about investment in defence companies. I declare an interest as an academic. Obviously, often it is students, and some of my colleagues as academics, who may think that the defence sector is not suitable to invest in, just as they are not keen to invest in tobacco or oil. What can His Majesty’s Government do to help launch the national conversation that the strategic defence review says we need to help people, not just the banks but other investors, understand that we need to work with defence companies, because the defence of the realm is the most important duty of the state?

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