Answer from Hansard

The Chancellor of the Exchequer (Rachel Reeves)

It is clear that the world is changing, which is why we must bring about a new era of security and renewal to keep our country safe. Last week, I convened European Finance Ministers at the G20 to discuss our shared challenges. I set out that national security will always be the first responsibility of this Government as well as national security being the bedrock for economic prosperity. I was also proud to welcome President Zelensky to Downing Street alongside the Prime Minister at the weekend, where we signed a loan agreement that will deliver £2.26 billion in funding to Ukraine above our other commitments to bolster its military capacity, repaid by the profits from frozen Russian sovereign assets. We will use the additional investment in defence to create more good jobs paying decent wages in all parts of the UK. That is why we are giving the National Wealth Fund a new strategic steer to invest in technologies that better support our security and defence. Britain is a strong country with strong defences, and I know that we can weather this changing world.