Mr Tanmanjeet Singh Dhesi

Mr Tanmanjeet Singh Dhesi

Labour — Slough

Speaking in the House of Commons on 1 June 2026

Debate

Defence Bonds

Contribution

Some hon. Members have advocated for defence bonds. As the Secretary of State will be aware, the Defence Committee has examined in detail various defence financing options, including a defence, security and resilience bank—the Canadians have stolen a march on us, even though the idea was developed by a former British Army officer. There are multilateral defence mechanisms, and other nations have opted for a loosening of the fiscal rules just for defence. Obviously, these are not either/or options, but given the increased threats and the level of volatility, we must accelerate investment in defence to 3% GDP spend in this Parliament. Given that context, what options and course of action are the Government pursuing? We cannot keep plodding along at the current pace; we must meet the moment.

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