Defence Investment Plan

Matt Western Excerpts

Tuesday 30th June 2026 Commons Chamber

[Dan Jarvis]

I pay tribute to Lord Hutton for the work he did when he was Defence Secretary. We listen very carefully to all those who take a view about the policies that we have brought forward. It is not unreasonable, however, to reiterate the commitment that we have made today: £298 billion, including £15 billion of new money, is contained in this defence investment plan, with an increase in real terms of 27% by 2029-30. That demonstrates a real commitment. Do we need to do more? Yes, I have been consistently clear that we do. We will listen to Lord Hutton and others in shaping that debate, but I am confident that the next spending review will provide the resources we need to meet the targets that we have committed ourselves to achieving.

[Matt Western (Warwick and Leamington) (Lab)]

I thank my right hon. Friend for the statement. As he said, this is a welcome shot in the arm for our defence and security sector. He talked about the defence export funding that would be available. That is extremely important because so many nations around the world really rate our kit and our expertise in these sectors. I am slightly concerned about what he said on home defence. Will he say a few more words about where he thinks we are on future funding and the importance of the Defence, Security and Resilience Bank?

[Dan Jarvis]

I am grateful to my hon. Friend for his important work in chairing the Joint Committee on the National Security Strategy. I agree with the thrust of his point about defence supporting growth. I know that he will be proud that we have a Labour Government generating good jobs and bringing forward a defence investment plan that is good for our economic security, as well as our national security. He will have heard my earlier remarks about taking a little bit of time to look at the various proposals from our allies and from others about how we might seek to fund further defence investment. I will take a bit of time to do that, but as ever, I am happy to discuss the matter further with him.