Source · Select Committees · National Security Strategy (Joint Committee)
Recommendation 36
36
Deferred
Industry lacks an adequate signal from Government on the allocation of spending across the defence,...
Conclusion
Industry lacks an adequate signal from Government on the allocation of spending across the defence, security and resilience sectors. This impacts the ability to plan research and development spending in a way that aligns with Government objectives, and prioritises the most important sovereign technologies. For SMEs in particular, this contributes to their vulnerability to acquisition by foreign investors, compromising their ability to contribute to security and sovereignty goals. (Conclusion, Paragraph 163)
Government Response Summary
The government commits to addressing the issue of inadequate signals by publishing a forthcoming Defence Finance and Investment Strategy and an SME action plan with a direct spending target, once the Defence Investment Plan is finalised.
Government Response
Deferred
HM Government
Deferred
The MOD’s forthcoming Defence Finance and Investment Strategy will set out measures to improve SMEs’ access to finance and growth capital. The Department is also committed to publishing an ambitious SME action plan, alongside a direct spending target, once the Defence Investment Plan is finalised.