Oral Answers to Questions
Debate between John Healey and Victoria Collins(1 week, 2 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Victoria Collins (Harpenden and Berkhamsted) (LD)
The Secretary of State for Defence (John Healey)
This Government are making the biggest increase in defence investment since the end of the cold war. This year alone, we have more than £11 billion more in the defence budget than in the last year of the previous Government. As the Prime Minister said in February,
“we are going to have to spend more faster”,
and we will.
John Healey
As I mentioned in a previous answer, we are indeed looking to participate in, and be able to take advantage of, the European Union’s loan scheme for Ukraine. That is a way in which we could accelerate getting good kit into the hands of the Ukrainians and ensure that British-made kit and British firms can make a big contribution to that.
Victoria Collins
My constituent Fraser puts it best when he says,
“At a time when the world is increasingly dark and uncertain, and when the UK’s defence capability is well below the level required”,
defence bonds
“are surely one which would gain support across the political spectrum. I know that I would happily invest.”
With all of us in the United Kingdom paying the price every time we check out or pay a bill, the Liberal Democrat calls to issue £20 billion of defence bonds would mean an injection of funding in our security, but also in our economy, so what are the Government waiting for?
John Healey
I remember that for at least six months after the election, the hon. Lady and her party were urging us to raise defence spending to 2.5% of GDP by 2030. We have done better than that—we are hitting 2.6% next year, three years before anyone expected, including her party. We will go further, and I will look for her support when we do.