Middle East: Economic Update

Lord Lancaster of Kimbolton Excerpts

Thursday 26th March 2026 Lords Chamber

[Lord Bridges of Headley (Con)]

My Lords—

[Lord Lancaster of Kimbolton (Con)]

My Lords—

[Lord in Waiting/Government Whip (Lord Lemos) (Lab)]

We will take Labour next.

--- Later in debate ---

[Lord Lancaster of Kimbolton (Con)]

My Lord, I declare my interest as director of the Army Reserve. I listened carefully to the Minister’s Statement about the increase in defence spending, which is, of course, most welcome. Can the Minister perhaps then confirm to me that, next year, the Ministry of Defence will not be required to make significant in-year savings?

[Lord Livermore (Lab)]

As I think I have said clearly, the Chancellor has approved access for the Ministry of Defence to use the special reserve to deploy additional capabilities in the Middle East, meaning that the net additional costs of these operations will be funded by the Treasury.