Oral Answers to Questions

Ed Davey Excerpts

Wednesday 26th February 2025 Commons Chamber

[Mr Speaker]

I call the leader of the Liberal Democrats.

[Ed Davey (Kingston and Surbiton) (LD)]

May I start by wishing the Prime Minister well on his trip to the White House? It will not be an easy meeting, but we are all behind him for the sake of our national interest. It is already clear that, sadly, under President Trump, we will not be able to rely on the United States to help ensure our security against Russian aggression, which is why we strongly welcome the Prime Minister’s decision to increase Britain’s defence spending. But Europe must do far more to rearm in the face of Putin’s threat and the UK must lead on that. That is why we back the idea of a new European rearmament bank, so that we can finance a big increase in manufacturing capacity without the need to cut Britain’s vital soft power. Will the Prime Minister look at this idea, work across this House and across Europe, so that we can make a European rearmament bank happen?

[The Prime Minister]

I shall resist the right hon. Gentleman’s suggestion that we somehow have to choose between the US and our European partners. I do not believe that to be the case. I want to strengthen our already strong relationship with the US, because it is vital that we do so. I of course want to work with our European allies on defence capability and on what more we need to do in relation to capability, co-ordination and funding. In the longer term, there is an ongoing discussion among allies as to future funding, and I am happy to share that with the House as it evolves.

[Ed Davey]

I hope the Prime Minister is successful in keeping the US on board with our European allies. I am glad that he is talking about finance and defence. If he were to push this European rearmament bank at the summit of European leaders on Sunday, I think that he would be pushing at an open door. Certainly, Prime Minister Tusk is supporting the idea from the Polish point of view.

Let me turn now to domestic matters, with the cost of living crisis hitting so many of our constituents. Families in my constituency are really angry that Thames Water is sending them bills this April that will cost them £150 a year more. Thames Water has already let down so many people, whether it is through leaking pipes or pumping its filthy sewage into our rivers. A third of customers’ bills are already used just to pay the interest on Thames Water’s debt, and now the company will borrow £3 billion more. Is it not time to stop making people pay for bailing out the vulture funds that are drowning Thames Water in debt? Will his Government just put this firm out of its misery and put it into special administration, so that we can sort out that mess and the mess left by that lot on the Conservative Benches?

[The Prime Minister]

The right hon. Gentleman is certainly right about the mess made by that lot. We obviously have our water Bill, which contains very strong measures, and I think that he supports them.