G8 and NATO Summits

Richard Ottaway Excerpts

Wednesday 23rd May 2012 Commons Chamber

[The Prime Minister]

The hon. Gentleman raises an important point. This is a difficult issue to get right. We are rightly discussing two problems: the need for growth, and the need for financial stability and ensuring we are safe, with the headwinds of a potential eurozone storm approaching. I think the best approach is to work hand in glove with the Bank of England and the Financial Services Authority to get that balance right. That is what the Government will do.

[Richard Ottaway (Croydon South) (Con)]

I congratulate the Prime Minister on his stamina, as I calculate that by this evening he will have done three summits in two continents in five days. I reiterate the points made by my right hon. Friend the Member for Mid Sussex (Nicholas Soames) and the right hon. Member for Coventry North East (Mr Ainsworth). We have to impress on NATO members that the conclusion of the Afghanistan campaign is no justification for cutting defence budgets. It is essential to have a full-blooded review of NATO strategy, with a full-blooded commitment from all its members.

[The Prime Minister]

I thank my hon. Friend for his remarks about my summitry. By the end of tonight, that will be enough summits for quite some time, although the G20 will soon catch up on us. What he says about NATO is right. We need reviews from all NATO countries, which need to go through their budgets and work out what is necessary for national defence. We need to ask what more we can all do to make sure that NATO has the capacities it needs for the future.