UK's Nuclear Deterrent

Part of Terrorist Attack: Nice – in the House of Commons at 4:15 pm on 18th July 2016.

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Photo of Theresa May Theresa May The Prime Minister, Leader of the Conservative Party 4:15 pm, 18th July 2016

I absolutely agree with my hon. Friend, and I think he is right to point out that there are Opposition Members who support that view. Sadly, not many of them seem to be on the Front Bench, but perhaps my speech will change the views of some of the Front Benchers; we will see.

I said to Angus Robertson that I would come on to the question of cost, and I want to do that now. Of course, no credible deterrent is cheap, and it is estimated that the four new submarines will cost £31 billion to build, with an additional contingency of £10 billion. With the acquisition costs spread over 35 years, this is effectively an insurance premium of 0.2% of total annual Government spending. That is 20p in every £100 for a capability that will protect our people through to the 2060s and beyond. I am very clear that our national security is worth every penny.