Alex Baker
Main Page: Alex Baker (Labour - Aldershot)Department Debates - View all Alex Baker's debates with the HM Treasury
(1 day, 8 hours ago)
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Rachel Reeves
I can confirm that there are no financial impediments to warships going to the middle east. Money is available through the special reserve for personnel and contracts for all our operations in the middle east.
Alex Baker (Aldershot) (Lab)
As the Member of Parliament for the home of the British Army, I thank the Chancellor for her support for our armed forces. My constituency is also home to innovative defence and aerospace businesses, many of which are ambitious to expand and to play their part in strengthening our national security, but that depends on being able to access the investment that they need to scale up. Will the Chancellor reassure those businesses in my constituency that this Government will continue to work closely with the financial sector to ensure British defence and advanced manufacturing companies can access the capital that they need to invest, grow and create good, skilled jobs here in the UK?
Rachel Reeves
As my hon. Friend knows, we have increased the funding available to both UK Export Finance and the National Wealth Fund to invest and support our defence industry. I also support the work that she and my hon. Friend the Member for York Outer (Mr Charters) are doing in ensuring that the financial services sector also lends to defence businesses, including scale-up businesses.