Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the incidence of B-Corp status resulting in financial divestment in the defence industry.

HM Treasury is aware that, in particular, SMEs and startups operating in the defence sector face barriers to accessing finance and MOD contracts, which is why the recent Defence Industrial Strategy established a new Defence Office for Small Business Growth to improve access to finance, set up a dedicated SME Commercial Pathway, and set ambitious targets for increasing MOD spending with SMEs.

The recent deal with Norway worth £10bn is testament to the UK’s global competitiveness.