Defence Investment Plan
It is clear that the Government’s defence investment plan is not fully funded. It adds little more than a sticking plaster to the gaping holes left in our armed forces by years of Conservative cuts. We need to rapidly regenerate our military and make it ready to deter and, if necessary, fight and win the wars of the future. That requires innovative thinking, both on the capabilities we need and the ways to raise the money to pay for them. As the Secretary of State well knows, the Liberal Democrats have proposed defence bonds. That idea has received support from Andy Haldane, the former chief economist to the Bank of England, who is now reportedly an adviser to the right hon. Member for Makerfield (Andy Burnham). Have the Secretary of State or his colleagues spoken to Mr Haldane about a defence bonds scheme? If not, will he commit to doing so?