Minister for Defence Readiness and Industry Luke Pollard MP's speech at Mansion House Defence and Security event

Minister Pollard emphasised the need for collaboration between government, industry and private finance to enhance UK deterrence and stimulate economic growth. He highlighted the presence of key decision-makers under one roof to drive the next generation of defence innovation, ensuring national security and supporting allies. Pollard acknowledged the contributions of those working directly with Ukraine, stressing that practical support and technological partnerships are essential to honouring the country’s resilience.

Pollard noted the rapid evolution of global geopolitics and the necessity for a new warfighting system, including innovative weaponry and approaches. He stated that the UK’s military operations today differ fundamentally from those at the start of Russia’s full-scale invasion of Ukraine, with lessons learned driving changes in Britain’s defence posture and innovation strategy.

The Minister criticised past procurement practices as slow and costly, particularly for small businesses, and outlined reforms to modernise military procurement. He referenced the Strategic Defence Review, Defence Industrial Strategy and Defence Investment Plan as blueprints for a more resilient, warfighting-ready military supported by a world-class supply chain and industry integration.

Pollard announced measures to increase defence spending with small and medium-sized enterprises, including a 50% rise in MOD expenditure with SMEs by Summer 2028. He highlighted the establishment of the Defence Office of Small Business Growth to reduce barriers, cut red tape and clarify funding routes, alongside the expansion of regional defence and security clusters to support localised networks and investor engagement.