May. 15 2024
Source Page: Defence Nuclear Safety Committee: Summary of the Public Body ReviewFound: Defence Nuclear Safety Committee: Summary of the Public Body Review
Asked by: Derek Twigg (Labour - Halton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what information his Department holds on the number of SMEs in the defence sector that have been denied (a) banking facilities and (b) other forms of finance because of environmental, social and governance policies since 2020.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The Government recognises the vital role small and medium-sized enterprises play in fuelling economic growth, and it is important they can access the banking services they need. Last year the Chancellor asked the Financial Conduct Authority (FCA) to collect evidence to help us understand where account closures and refusals are happening and why. The FCA published their initial findings on 19 September, and are doing further work with firms to verify the data and to better understand the reasons behind account refusals. In addition, HM Treasury is continuing to engage with industry to understand any existing or emerging issues regarding bank account access for businesses.
The Government welcomes steps that the financial services sector is taking to improve understanding of how firms can access financial services. In December, guidance specifically aimed at businesses operating in the defence and security sectors was published by UK Finance, the trade association for the banking and finance industry, and ADS, the trade association for the UK’s aerospace, defence, security and space sectors. This work was supported by the Department for Business and Trade.
The Government has been clear that it does not support the exclusion of defence companies from access to debt and equity capital on the basis of Environmental, Social and Governance (ESG) considerations. This was made evident in a Written Ministerial Statement made by the Secretary of State for Defence, in conjunction with HM Treasury, that stated “the important values within ESG should not undermine capabilities developed to help us preserve peace and security, without which sustaining those values would not be possible”. In addition, HM Treasury has recently consulted on a potential regulatory framework for ESG ratings providers which would aim to improve transparency and promote good conduct, which will help address some of the issues which defence companies have raised.
Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)
Question to the Ministry of Defence:
To ask the Secretary of State for Defence, whether he has had discussions with his NATO counterparts on the potential impact of (a) conscription and (b) total defence models on improving NATO's collective security.
Answered by James Heappey
The UK discusses a broad range of issues with counterparts on improving NATO's collective security. NATO is undertaking a once-in-a-generation transformation, agreeing a new generation of warfighting plans, to ensure that the Alliance can deter and defend seamlessly across all domains.
The UK has committed almost all our Armed Forces across the full spectrum of capabilities under the NATO Force Model - our strongest ever force contribution to the Alliance.
However, the Government has no current plans to reintroduce National Service or any form of conscription.
Apr. 23 2024
Source Page: Modernising testing and evaluation methods to future-proof defenceFound: Modernising testing and evaluation methods to future-proof defence
Apr. 23 2024
Source Page: Modernising testing and evaluation methods to future-proof defenceFound: Modernising testing and evaluation methods to future-proof defence
May. 24 2024
Source Page: Procurement Act 2023 guidance documents - Plan phaseFound: Guidance: Defence and Security Contracts May 2024 Guidance on Defence and Security Contracts
Apr. 25 2024
Source Page: Memorandum of Understanding between the Ministry of Defence (MOD) and the Office for Nuclear Regulation (ONR)Found: Memorandum of Understanding between the Ministry of Defence (MOD) and the Office for Nuclear Regulation
Apr. 25 2024
Source Page: Memorandum of Understanding between the Ministry of Defence (MOD) and the Office for Nuclear Regulation (ONR)Found: Memorandum of Understanding between the Ministry of Defence (MOD) and the Office for Nuclear Regulation
May. 09 2024
Source Page: Call for Proposals: UKISF Pacific ProgrammeFound: , defence and security policy is both the right thing to do and the smart thing to do.
May. 09 2024
Source Page: Call for Proposals: UKISF Pacific ProgrammeFound: , defence and security policy is both the right thing to do and the smart thing to do.