Agreed joint statement from HM Treasury and the Investment Association

Investing in defence companies contributes to our national security, defends the civil liberties we all enjoy, while delivering long-term returns for pensions funds and retail investors.

That is why the UK's world leading investment management industry supports our defence sector, with the Investment Association's members having invested £35 billion in UK defence companies.

Investing in good, high-quality, well-run defence companies is compatible with ESG considerations as long-term sustainable investment is about helping all sectors and all companies in the economy succeed.