(1 day, 9 hours ago)
Commons Chamber
Peter Fortune (Bromley and Biggin Hill) (Con)
This summer, the UK joined all other 31 NATO nations in agreeing the new NATO benchmark of 5% spending on national security by 2035. That followed this Government’s announcement of the largest sustained increase in defence spending since the end of the cold war.
We have committed to the target of 5% by 2035, like all 31 other allies. This Government have already put in an extra £5 billion in the first year and will hit 2.6% by 2027—three years earlier than anyone expected. We have an ambition for 3% in the next Parliament. The rising profile of defence investment over the next decade puts an end to 14 years of the British armed forces being hollowed out and underfunded under Tory Governments.
Peter Fortune
It was troubling to hear—unless I misheard the answer to my hon. Friend the Member for Mid Buckinghamshire (Greg Smith)—that the Secretary of State can talk with exactitude about the future of welfare spending, but not of defence spending. I remind him that the last time a Government spent 3% on defence was in 1996, and it was a Conservative Government. He is eloquent, but I would like him to be exact. When specifically—in which financial year—can we expect to hit 3% on defence spending?
If the hon. Member wants to trade records, his Government had 14 years to raise defence spending; it falls to this Government to raise it back to 2.5%—the level it was at in 2010, when Labour was last in government—and we will hit 3% in the next Parliament.