Royal Navy: Staffing

Lord Davies of Stamford Excerpts

Tuesday 5th December 2017 Lords Chamber

[Earl Howe]

Yes, indeed. One of our objectives is to strengthen our bilateral relationships, not only with the French but with Germany and other countries in Europe. But, as the noble Lord will be aware, the UK and France have had a long history of working together on operations and exercises, and the Combined Joint Expeditionary Force is a realisation of the commitment made in the Lancaster House agreement for our forces to train and operate alongside each other.

[Lord Davies of Stamford (Lab)]

My Lords, following the Minister’s answer just a moment ago about foreign currency exposure and the procurement of military equipment, would it not be sensible—in the light of recent, rather uncomfortable experience—to extend the period of that hedging to cover the full delivery and payment period for the relevant project at the time when the contract is signed and the project is undertaken?

[Earl Howe]

Certainly, that idea is under consideration, but I am not qualified to make a judgment as to whether a particular form of hedging, or the timing of a hedging contract, is opportune. That is for more skilled minds than mine.