Reaching 3% of GDP on defence by 2030

That this House believes that the threats facing the UK are at their most severe than at any point since the end of the Cold War; further believes that Vladimir Putin presents a threat to the whole of Europe, both through his ongoing and brutal invasion of Ukraine, and his programme of hybrid war and sabotage across the continent; recognises that Donald Trump cannot be counted upon as a reliable ally, has cast doubt on America’s commitment to NATO Article 5, and ridden roughshod over international law with his threats to Greenland and war in Iran; recognises the critical importance of the UK increasing defence spending rapidly to strengthen Britain’s security and expand our sovereign capabilities; calls on the Government to commit to a target of spending 3% of GDP on defence by 2030, and to urgently publish the Defence Investment Plan to provide confidence to industry and international partners about the UK’s commitment to collective security; further calls on the Government to implement a £20 billion defence bonds issuance, targeted at capital-intensive spending associated with the Strategic Defence Review; and also calls on the Government to hold cross-party talks to agree a consensus on how to reach that target.