Question to the HM Treasury:

To ask His Majesty's Government what progress they have made towards forming the Multilateral Defence Mechanism to fund defence

As a part of the Defence Investment Plan (DIP) discussions, the government committed £400 million towards the UK’s contribution to the Multilateral Defence Mechanism (MDM).

On 6 July, the United Kingdom, Netherlands, Finland and Poland issued a joint statement to reiterate their commitment to strengthen defence financing and improve the cost efficiency of defence spending acknowledging the significant progress achieved to develop MDM.

At Ankara in July, UK Prime Minister Starmer and Prime Minister Carney of Canada issued a joint statement on defence financing. This noted that the efforts of the countries supporting the Defence, Security and Resilience Bank (DSRB) and the MDM have a high degree of complementarity and taken together can serve to improve defence investment throughout the supply chain.