Baroness Chapman of Darlington (Lab)

I apologise to the noble Baroness for missing her speech, and I will read it in Hansard; the bladder is only so strong. What matters here is that there is consistency across government and over time in the way that we do these things. These things are done the same as they would be done for any other agreement. I know that some people take a different view of the OBR from the one that this Government take. We take it seriously, and it has looked at our figures and verified them. The noble Baroness could by all means come back to this in Committee—I am sure that she will—but, for tonight, I will stick with what the OBR had to say on this issue. The way that we have done this ensures that the figures are realistic and comparable, not inflated by simply adding up future payments while ignoring the depreciation of value over time. The noble Lord, Lord Altrincham, made quite a thoughtful speech. He is worried about the money. I should point out that we do not see this as an open market situation by any means. He seeks clarity about total cost. I can confirm that £3.4 billion is just that—it is the total cost. The noble Baroness, Lady Meyer, suggested that the US should be contributing to the cost of the treaty, given its joint use of the military base. We have to recognise that the US pays for the operating costs of the base, and these are several multiples greater than any payments by the UK. We benefit greatly from this arrangement. This allows us to access a valuable capability that keeps our country safe and the US is paying far more for it than we do.