Defence Review

Lord Spicer Excerpts

Wednesday 25th March 2015 Lords Chamber

[Lord Wallace of Saltaire]

My Lords, we will hit 2% this year. My understanding is that, on current trends, we will hit 2% next year. What happens after that is a question for the SDSR and for the next comprehensive spending review, which the new Government will take through. I am sure that the question of the need for more frigates will be high on the agenda for any SDSR.

[Lord Spicer (Con)]

My Lords—

[Lord Palmer of Childs Hill (LD)]

My Lords—

--- Later in debate ---

[Lord Spicer]

My Lords, why are we so hooked on 2%? Surely we may want to spend more.

[Lord Wallace of Saltaire]

My Lords, I am sure that some will want to spend more but, as all noble Lords are aware, the number of calls on public expenditure is large and the amount of revenue available is relatively limited.