Oral Answers to Questions
Debate between Jim Cunningham and Guto Bebb(5 years, 10 months ago)
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The Parliamentary Under-Secretary of State for Defence (Guto Bebb)
We are taking steps to ensure strategic affordability through the modernising defence programme and our annual financial management processes. The cost of the plan is reviewed on an ongoing basis, and we expect to publish the equipment plan financial summary for 2018 to 2028 in the autumn.
Mr Cunningham
Can the Minister confirm that the Government still intend to procure the full 138 F-35s, as previously announced?
Guto Bebb
It gave me great pleasure to be present at RAF Marham on Wednesday to welcome the first four F-35s. As the hon. Gentleman is aware, the first 48 are fully paid for and committed to. We are looking at everything in the modernising defence programme, but the current situation is that we still anticipate the purchase of 138 F-35s.
Interest Rate Swap Derivatives
Debate between Jim Cunningham and Guto Bebb(10 years, 6 months ago)
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Guto Bebb
My hon. Friend makes an important point, which those on the Front Bench need to take seriously. These businesses have been unable to invest because they simply do not know whether they are financially feasible. Time and again, I have heard stories of people with investment plans who, rather than implementing them and growing their businesses, have been closing elements of their businesses, making staff redundant and just trying to survive.
Mr Jim Cunningham (Coventry South) (Lab)
The hon. Gentleman mentioned the situation facing small businesses. Does he agree that some small companies are afraid to challenge their banks because their loans could be cancelled?
Guto Bebb
That concern has certainly been raised, but I keep receiving assurances from the banks that that is not the case. I want to take those assurances at face value and would still recommend that anybody who has been sold one of these products should undoubtedly go and talk to their banks. If the banks are unsympathetic, they should come and talk to their MPs, because we can and should intervene.