James MacCleary

With the defence investment plan now nine months overdue, I hear almost daily from small and medium-sized defence enterprises that face a funding precipice. Many are warning that without certainty from Government, they will be unable to invest, hire, or—in some cases—continue operating. Will the Minister tell the House what assessment has been made of the financial impact on the UK defence industry of the continued delay to the defence investment plan? The Government’s national security adviser has said that our armed forces need a minimum of £18 billion extra—and likely a lot more. Given that his former colleagues resigned on principle over the Government’s failure to fund defence properly, will the Minister resign if he fails to secure at least that minimum allocation? In the spirit of constructive opposition, may I suggest a way for him to avoid that fate entirely? Will he consider backing Lib Dem defence bonds, which would raise £20 billion over two years and give our armed forces the immediate injection of funding they need for certainty?