Nigel Mills
Main Page: Nigel Mills (Conservative - Amber Valley)Department Debates - View all Nigel Mills's debates with the Ministry of Defence
(7 years, 5 months ago)
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Sir Michael Fallon
Yes, I do agree with that. That is why we have set aside a specific innovation fund to encourage more innovation in defence and to get more of our small and medium-sized businesses, of which I know there are a large number in and around my hon. Friend’s constituency, to help us find these cutting-edge solutions.
Nigel Mills (Amber Valley) (Con)
14. What steps he is taking to encourage innovation by defence suppliers.
The Parliamentary Under-Secretary of State for Defence (Harriett Baldwin)
With an equipment plan worth £178 billion and a rising defence budget, there are great opportunities for innovative suppliers. The £800 million innovation fund will provide the Ministry of Defence with the freedom to pursue innovative solutions in an open, competitive process.
Nigel Mills
Will the Minister ensure that there is greater risk appetite in which projects are selected for funding to ensure that our armed forces have the best technology available to them?
Harriett Baldwin
My hon. Friend is absolutely right to highlight this issue. It is one of the things that we weight when we consider awards through the innovation fund to ensure that the projects with the highest risks but the biggest potential pay-off are the ones that are invested in.