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Written question asked by Lord De Mauley (Conservative) on Thursday, 23 July 2026, in the House of Lords. It was due for an answer on Thursday, 6 August 2026. It was answered by Lord Pitt-Watson (Labour) on Tuesday, 15 September 2026 on behalf of the Treasury.

Defence, Security and Resilience Bank Development Group

Question

To ask His Majesty's Government what assessment they have made of the relative benefits of joining the Defence, Security and Resilience Bank as opposed to the Security Action for Europe scheme.

Answer

The MDM and DSRB are initiatives with a shared recognition that allies must work together to strengthen defence capability, industrial capacity and collective security. As is standard under public spending rules, paid-in capital for international institutions, such as Multilateral Defence Mechanism (MDM) and Defence, Security and Resilience Bank (DSRB) will score as financial transactions and should therefore have a neutral impact on UK public sector net financial liabilities (PSNFL). Any borrowing from them would be recognized as government expenditure.

At Ankara in July, UK Prime Minister Starmer and Prime Minister Carney of Canada issued a joint statement on defence financing. This noted that the efforts of the countries supporting the DSRB and the MDM have a high degree of complementarity,and, taken together can serve to improve defence investment throughout the supply chain.

Secondary information

Type
Written question
Reference
HL2664
Session
2026-27
Grouped for answer
Yes
Subjects
Defence, Security and Resilience Bank Development Group Security action for Europe
Link
View this Written question on www.parliament.uk