Defence Investment Plan

That this House expresses deep concern at the publication of the Defence Investment Plan (DIP), which is nearly a year delayed and delivers a fundamentally unambitious funding package for the nation's security; notes that the £15 billion in new military spending falls significantly short of the sum required to restore defence readiness and meet strategic obligations; regrets that this plan leaves an unfunded £4.7 billion black hole that directly threatens the UK’s defence capabilities and undermines its standing with key NATO allies; urges the Government to deliver a £20 billion defence bonds programme, hypothecated to capital spending on defence to rapidly inject money into the Armed Forces; further regrets that the delays in publishing the DIP have already caused industry uncertainty, leaving vital supply chain partners without a clear demand signal; recognises that SMEs form an increasingly critical part of the UK’s defence industrial base and are disproportionately affected; and calls on the Government to publish a comprehensive, independent report within six months on the specific economic consequences that the delay has had on SMEs within the defence sector and the wider supply chain.