Question to the Ministry of Defence:

To ask the Secretary of State for Defence, what steps he is taking to encourage local authorities to invest pension funds in UK defence companies.

The Government is committed to increasing private sector investment in the UK defence sector, recognising its vital role in driving innovation, creating jobs, and enhancing national security. This commitment was underscored by the Defence Secretary’s speech at the London Stock Exchange on 13 May 2025, the roundtable he chaired with private investors on 2 April, and the establishment of the UK Defence Economic and Growth Taskforce, chaired by the Defence Secretary and the Chancellor.

The Strategic Defence Review recommended the Ministry of Defence develop a dedicated financial services strategy by March 2026. We will consult a wide range of stakeholders during the production of this strategy.