Business and Trade Committee
8 September 2026
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Business and Trade Committee House of Commons
00:07 - 01:07
Speaker 3
Order, welcome to the Business and Trade newly formed committee as we now also take in the innovation into our remit. Today we are continuing our investigation into the industrial strategy and particularly its sectors and today we're going to be looking at defense. We are looking at these sectors of concern but also issues that might be cross-cutting. And so we are also today in this session this afternoon going to be looking at how that potentially impacts into the devolution agenda that the government has. So welcome to our witnesses today.
You are from the defense and finance industry so we're very keen to hear what you have to say. The government has announced a 15 billion pounds extra on defense in this parliament with the intention to raise spending to 3% by the next parliament. So if I could ask the witnesses to introduce themselves and just say sort of where they're coming from and what their angle is that would be very, very helpful. John, would you like to start?
01:07 - 01:34
Speaker 4
Yes, I'm John Godfrey, I'm the MD for Policy and Public Affairs at TheCityUK. TheCityUK is a member organization representing banks, insurers, asset managers and related professional services. One of the things I do there is look after our defense and resilience group which has about 70 firms in membership and its aim is to improve the flow of finance into the defense and resilience sectors.
01:34 - 01:36
Speaker 1
Thank you. Nathan.
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