Question to the Ministry of Defence:

To ask the Secretary of State for Defence, what assessment he has made of the potential impact of UK participation in the Defence, Security and Resilience Bank on (a) access to finance for UK defence manufacturers and SMEs and (b) investment in UK defence industrial capacity.

The UK and Canada share a common objective of strengthening Allied defence industrial capacity through closer international cooperation. The Multilateral Defence Mechanism (MDM) and Canada's proposed Defence, Security and Resilience Bank (DSRB) are intended to address related challenges within the defence industrial ecosystem.

Following the joint-PM statement at the NATO Ankara summit in July, we committed to working closely with our Canadian allies on how the MDM and DSRB can work together, and we continue to do this.