Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential financial implications of the proposed Security Pact with the European Union.

We are ready to negotiate a Security and Defence Partnership agreement with the EU. This should build on the EU’s existing partnership agreements with other third countries, while recognising the unique nature of our security relationship.

We are also ready to look at wider cooperation, beyond a Security and Defence Partnership agreement, on the key issues facing our continent’s security: how to ramp up our defence industrial capacity, financing and capability development.

However, we will not be providing a running commentary on the details of these discussions.