More than 100 Labour MPs and peers have urged banks and investment firms to relax their rules on investing in defence companies. In an open letter, they said “ill considered” ethical investment rules had been holding back their access to finance. They wrote that a change in approach would help the UK bolster its defences, and contribute to the government’s drive to boost economic growth. It also reflects a trend in recent years to emphasise the national security element of defence investment since Russia’s full-scale invasion of Ukraine in 2022.
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