Tanmanjeet Singh Dhesi
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Defence Sector Financing
Tanmanjeet Singh Dhesi Excerpts(1 day, 14 hours ago)
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Mr Luke Charters (York Outer) (Lab)
I beg to move,
That this House has considered barriers to defence sector financing.
It is a pleasure to serve under your chairship, Sir Edward. I thank my hon. Friend the Minister for responding today. Every era has ideas that capture imaginations, but only some give birth to institutions that genuinely have the chance to reshape history. The World Bank kick-started post-war reconstruction, and in 1949 NATO was founded, representing a giant, global step forward towards peace and security—frankly, it is hard to imagine a world without it. The lesson here is clear: when institutions are bold and are built for the long term, they secure the peace that prosperity depends on.
Today I want to present another bold idea about an institution that would strengthen and deepen our alliances for generations. What makes this opportunity even more unique is that one of the architects of the concept will hopefully be joining us later. I speak, of course, of the urgent need for a multilateral defence development bank. In my view, that is the single most transformative lever the Government could pull to fortify our collective security.
Mr Tanmanjeet Singh Dhesi (Slough) (Lab)
I congratulate my hon. Friend on securing today’s debate on defence sector financing. Given the current precarious security situation in Europe, we cannot be complacent and be left behind while our adversaries and others ramp up their military capabilities. Does he agree that it would be highly misguided to hold back British industry in such volatile and unpredictable times?
Mr Charters
I thank my hon. Friend for his sterling work on the Defence Committee. Through our collective industrial strength, what greater deterrent could there be to our adversaries?