Treasury Committee
3 June 2026
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Treasury Committee House of Commons
00:02 - 02:03
Speaker 16
Order. Order. Welcome to the treasury select committee on Wednesday, 06/03/2026. We're looking today at a defense spending and how the the how fine financing, how The UK is prepared for the challenges ahead. Before I start today's session, though, I do want to pay tribute to the three crew members of the Royal Navy helicopter that crashed in the earlier hours of this morning.
It's very sad that those three crew members have lost their lives, and the thoughts of this committee and parliament is with their family and loved ones. I'd like to welcome our witnesses today. We're pleased to have, in front of us, from my left to right, Andrew Kinneber, who's the director general for MAKE UK Defense, representing a number of the SMEs that contribute to our defense manufacturing. Lucia Retta, who's the assistant director for defense and security at RAND Europe. And Max Warner, who's a senior research economist at the Institute for Fiscal Studies.
Institute for Fiscal Studies, a very regular, attendee, at our meetings. And we're looking at this issue because of the the challenges facing the world, and the the challenge is always whatever art assistant committee ministry def defense select committee does on this. Obviously, a lot around defense depends on the money that's available. And the the the government has set out its defense strategic plan, thanks to Lord Robertson and and colleagues of of his who worked on that. It set out three core roles for the euro UK defense, defending The UK and our overseas territories, deterring and defending in the Euro Atlantic and shaping the global security environment.
And also, we have a long standing and ongoing commitment to the independent UK nuclear deterrent, which takes up a large chunk of the money that is available for defense. So I really wanted to go through you each of you in turn and ask, you know, what do you think is the actual gap between what we need to do to deliver on those objectives and the money available and whether we're being realistic about what we can achieve with the money available. Perhaps if I could start start with you, mister Kim.
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