Defence: Finance
The question
To ask the Secretary of State for Defence, whether he plans to publish a framework for measuring the economic return on defence investment.
Answered by Luke Pollard
The Department is committed to ensuring defence is an engine for growth.
Defence guarantees our peace and security, which underpins all UK economic growth. The economic return is significant but not amenable to quantification.
Additional growth is achieved as Defence spending in the UK improves the functioning of the economy. We assess these impacts using the Defence Growth Framework which was published in the Defence Investment Plan.
The five core criteria which are used to analyse investments through the Growth Framework are:
- Research & Development
- Skills / human capital
- Frontier industry
- Place
- Market competition
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