Small and medium-sized enterprises in defence procurement

That this House recognises the vital role of small and medium-sized enterprises (SMEs) in the UK defence industry, providing innovation, flexibility and high-quality jobs across the country; notes with concern the longstanding inefficiencies in the Ministry of Defence’s procurement system, including delays, overspends and inflexible processes that restrict SME participation; believes that defence procurement must be reformed to be more adaptable, accountable and strategically integrated into a broader industrial strategy; urges the Government to support the better integration of SMEs into the domestic supply chain, enabling them to further contribute to developing the UK's sovereign defence capabilities; calls on the Government to secure a UK-EU defence pact which would enable access for UK firms to European defence funding programmes; and further calls on the Government to support the development of a rearmament bank with our partners in Europe, providing further access to finance for UK firms.