Defence: Finance
The question
To ask the Chancellor of the Exchequer, what progress she has made in delivering the Multilateral Defence Mechanism.
Answered by Lucy Rigby
On 17 March, the UK announced our intention to explore setting up a new mechanism for defence financing and joint procurement together with Finland, the Netherlands and other NATO allies.
This mechanism will aim to finance and aggregate demand, drive joint procurement, accelerate defence investment, and increase the availability of critical capabilities such as munitions as we step up shared defence and security commitments.
Together with our partners, we are working rapidly to develop the proposal further.
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