Question to the Cabinet Office:

To ask His Majesty's Government, further to the remarks by the Prime Minister at the Downing Street news conference on 25 February, how they calculated that 0.2 per cent of GDP equates to £13.4 billion.

Answered by Baroness Anderson of Stoke-on-Trent - Baroness in Waiting (HM Household) (Whip)

In 2027/28 we will be spending £13.4 billion more on defence than we do today. Our cash spend in 24/25 is £66.3 billion and our cash spend in 27/28 will be £79.7 billion.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the effects on UK GDP of the imposition of tariffs by the President of the United States of America on Mexico and Canada.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

HMT continuously monitors external developments and potential impacts on the UK economy and is committed to considering what actions are best to promote and safeguard UK business interests.

Global trade is an important driver of global and domestic growth; increased trade barriers and increased uncertainty about trade policies between partners will be detrimental to the global and UK economies. We are clear – as a very open economy – that free and open global trade is in our national interest.

Found: If I recall correctly, Lord Tyrie, when an MP and Chair of the Treasury Select Committee, had some dealings