Spending Review 2025

Alex Baker Excerpts

Wednesday 11th June 2025 Commons Chamber

[Rachel Reeves]

For London, today we have increased the spending power of the police by 2.3% in real terms every year; we have record investment in the affordable homes programme, which includes building new homes in London; and we have free school meals, lifting around 10,000 children in London out of poverty, and much more. We are also backing a third runway at Heathrow and investing in tunnelling to take HS2 to Euston. This is a good spending review for London, but most importantly, it is a good spending review for the whole United Kingdom.

[Alex Baker (Aldershot) (Lab)]

I congratulate the Chancellor on the spending review, and welcome her commitment both to defence spending and to our being a defence industrial superpower, which is vital to my community in Aldershot and Farnborough. This week, my hon. Friend the Member for York Outer (Mr Charters) and I published a report entitled “Rewiring British Defence Financing”, which supports the Chancellor’s work to fire up our defence industrial base. As part of that, will she support my campaign for a UK-led multilateral defence security and resilience bank to finance our national resilience, support our allies, and keep our country safe?

[Rachel Reeves]

I thank my hon. Friend for the work that she and my hon. Friend the Member for York Outer (Mr Charters) have done to make the moral case for financial services funds investing in defence, which is what keeps our country safe. As we uplift our defence spending, we want to get value for money. That is why we were so pleased that, in the deal that we did with the European Union, we secured a defence industrial partnership with the EU.