Mr Luke Charters

Mr Luke Charters

Labour — York Outer

Speaking in the House of Commons on 7 May 2025

Debate

Defence Sector Financing

Contribution

As always, my hon. Friend is absolutely right. To secure lasting peace, we need greater co-operation in defence procurement and financing with the EU and allies across the world. Last month, my hon. Friend the Member for Aldershot and I warned that Russia plans to produce 4,500 tanks and armoured vehicles this year, plus 250,000 shells per month. That would lead to stockpiles three times larger than those of the US and Europe combined. Let that sink in. This is not a temporary surge; it is a long-term shift. We must match military strategy with financial and industrial muscle through a multilateral defence bank.

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