Dr Julian Lewis: We now know that the cold war is back with a vengeance. We regularly spent between 4.5% and 5% of GDP on defence in the closing stages of the cold war. Has the time come to set a higher target than a bare 2%? Surely 3% should be a minimum.
[The Secretary of State for Defence (Mr Ben Wallace): I think I win the bet for predicting my right hon. Friend’s question. It is absolutely clear, as I have always said, that our defence budget and our defence disposition should be based on the threat. If the threat changes, we should be perfectly open to considering changes, and we will. I will certainly pray him in aid if I make the case.
We should also recognise that the NATO alliance, collectively, well outspends Russia. All 30 nations together spend hundreds of billions of pounds on defence, way above what Russia spends. That is the strength of the alliance, and it is why we need 30 members. That is why we can make a difference to Russia.]