The landmark agreement secured today will complement our bilateral partnerships with European countries. It will pave the way for UK defence industries to participate in EU defence programmes, supporting thousands of British jobs, boosting growth and making our continent safer.
I am pleased that today the United Kingdom is hosting a summit in London to reset our relationship with Europe—yet another sign that this Labour Government are restoring our reputation as a global power after it was trashed by a decade of Tory incompetence. Will my right hon. Friend outline what steps are being taken to ensure that our world-leading defence industry can access the European rearmament fund, to drive economic prosperity at home, benefit my constituents, and strengthen security across Europe?
The UK and the EU will use this opportunity to explore closer collaboration across defence industrial initiatives in a way that will support economic growth and jobs on both sides, and help to prevent fragmentation across our shared industrial base. We can now go on to discuss a bilateral agreement to facilitate participation in EU schemes such as ReArm and SAFE—Security Action for Europe.
What financial commitment will the UK have to make to participate in the fund?
Any financial commitment that has to be made will be subject to the further discussions that I have just set out. Today’s agreement enables us to discuss bilaterally what arrangements we can make to have access to those programmes.