Leaked Budget defence spending plan "does not meet the moment our country faces" - MacCleary

Leaked Budget defence spending plan "does not meet the moment our country faces" - MacCleary

Responding to reports in the Sunday Times that John Healey will use this week's budget to increase borrowing in order to fund limited and unspecified defence spending through the National Wealth Fund and the British Business Bank, Liberal Democrat Defence Spokesperson James MacCleary MP said:

“The Liberal Democrats have long argued that the Government should raise defence bonds to fund productive investment in our armed forces and in defence-related research and development. It's great that the Chancellor seems to now be catching up with us, but this latest Budget leak is still a missed opportunity which does not meet the moment our country faces.

“Our national security has been threatened by the Tories’ failure to fund defence while in Government. We need a larger injection now, particularly to strengthen our navy to stand up to Russian maritime aggression.

“We should also be working with our allies in Europe, Canada, Australia and Japan to ensure UK firms have access to joint funding and procurement initiatives.”

ENDS

Notes to Editors:

The Sunday Times original reporting can be found here