PARLIAMENTARY DEBATE
Topical Questions - 18 July 2022 (Commons/Commons Chamber)
Debate Detail
“the Secretary of State is clear that he rules nothing out”.
He also said:
“I am certain that the House will hear from him in the near future.”—[Official Report, 14 July 2022; Vol. 718, c. 494.]
With the summer recess starting on Thursday, when will the Secretary of State make a statement to the House on this?
On the point made by the hon. Member for Tiverton and Honiton (Richard Foord), I think that is based on the new inflation rate. When we got our defence spending in the comprehensive spending review, the GDP deflator was at 1.5%. As a result, we have been compensated by the Treasury in the short term for inflationary pressures, but that will not show in the core budget until after the accounts are in. However, he is right to point out that inflationary pressures on a budget such as ours, with huge amounts of capital, will have an impact. We are taking steps to try to mitigate that, and I am looking forward to engaging with the new Prime Minister to make sure we get that mitigation.
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