Steve Barclay
Main Page: Steve Barclay (Conservative - North East Cambridgeshire)Department Debates - View all Steve Barclay's debates with the HM Treasury
Defence Sector Financing
Steve Barclay Excerpts(1 day, 14 hours ago)
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Mr Charters
Growth in the defence sector, and allied sectors such as space, will deliver prosperity across the UK. If we can get commercial lending working for defence, it will support growth in those allied sectors too.
My hon. Friend the Economic Secretary to the Treasury is one of the most erudite Members, and understands the City of London better than anyone else, so I am sure she agrees with me that there is no better home for the bank than the Square Mile, not least because of our relationships across the Atlantic and our proximity to Europe. My simple ask today is that the Government invite officials from finance Departments around the world to meet in London to discuss and explore the concept of a multilateral defence bank.
Steve Barclay (North East Cambridgeshire) (Con)
I join colleagues in welcoming this debate. The hon. Member is making some constructive suggestions, but a simple thing that the Government could do, because they have sole control of it, is look at the British Business Bank, which is sector-agnostic. That would be persuasive to international partners and would fit with the arguments he makes. Why are Ministers not willing to give a steer to the British Business Bank?