Helen Maguire
Main Page: Helen Maguire (Liberal Democrat - Epsom and Ewell)Department Debates - View all Helen Maguire's debates with the Ministry of Defence
(5 days, 23 hours ago)
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Luke Pollard
I have a lot of time for the right hon. Gentleman, with whom I have spent many hours discussing defence spending. I am certainly very aware of the danger we now face—it is one of the reasons why the Government have decided to declassify a number of the threats facing the United Kingdom. When the Defence Secretary declassified the activities of the Russian spy ship Yantar over our undersea cables, for example, it was both to explain the threats that we are now facing as a nation and to send a clear signal to Putin that we see what he is doing. Deterrence takes a number of forms; there are certainly our capabilities, but the ability to call out and, in doing so, to restrict the ability of Russia to threaten the UK and our allies is also important. I understand what he says, however, and take it seriously.
Helen Maguire (Epsom and Ewell) (LD)
People are suffering due to the cost of living crisis, and taxes are at an all-time high. The delayed investment decisions are paralysing planning for defence businesses, which are stuck in limbo. Could the Minister explain what he is doing to use innovative mechanisms such as defence bonds and the rearmament bank to support the defence sector without placing additional burdens on the taxpayer?
Luke Pollard
I thank the hon. Lady for her question and for her continued interest in defence, even with her new role in the Liberal Democrats. We are continuing to place contracts with British industry—1,400 since the general election, announcing a number of those in just the past few weeks—which is seeing jobs growth and both capital investment in infrastructure and investment in people and the skills that are required. The hon. Lady refers to innovative finance. We will set out the spending in the defence investment plan. As the hon. Lady will know, we are increasing defence spending, and I welcome a debate about innovation and how we can get more value out of the pounds we spend. Under the Labour Government, fewer contracts will be sent abroad—something that was commonplace under the Conservatives. I want to see the activation of more private capital to look at how we can support not just the supply chain, but, potentially, defence capabilities. We have committed to doing that with the development of a defence finance and investment strategy, which we are working on currently.