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UK Prosperity

Volume 644: debated on Monday 9 July 2018

In line with the Government’s industrial strategy, the Department is committed to supporting UK prosperity through the contribution it makes to our stability and security, and through growing the economic value generated by defence activities. My hon. Friend has today published an independent report, with recommendations to enhance the contribution defence makes to UK prosperity. I would like to thank him for his work, which we will be considering very closely.

I am grateful to my right hon. Friend for the opportunity to produce this report. I have to say that I was surprised but encouraged to see Opposition Front Benchers attending the launch earlier today, and given their contributions in the Chamber, they are clearly learning something from it. Does my right hon. Friend agree with my recommendation that we should take advantage, as we come out of the EU, and look at how the MOD can take account of the UK economic impact in its major procurements?

Leaving the European Union presents this country with one of its greatest opportunities in a generation, and we must use every opportunity we have to leverage prosperity for the United Kingdom. Let us not forget that for every single pound spent on defence, £4 is generated in our economy, so investing in defence is investing in Britain’s prosperity.