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Labour-run Development Bank of Wales blocks funding for defence companies

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Tuesday, 6 May, 2025
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Labour-run Development Bank of Wales blocks funding for defence companies

During today’s First Minister’s Questions, the Leader of the Welsh Conservatives, Darren Millar MS, marked the 80th Anniversary of VE Day and his recent visit to Ukraine. Mr. Millar emphasised the sobering reminder that freedoms won during World War II cannot be taken for granted, particularly in light of the ongoing conflict in Ukraine.

Mr Millar also challenged the First Minister over the Development Bank of Wales’ exclusion of defence companies from applying for financial support. Wales plays a key role in the defence industry with more than 160 companies employing more than 20,000 people, playing a key role in the UK’s defence sector and their hard work plays an important role in global freedoms.

Commenting after his exchange with the First Minister, Leader of the Welsh Conservatives, Darren Millar MS said:

“Following my visit to Ukraine, I was deeply moved by the gratitude of the Ukrainian people for the support provided by Wales. It is a poignant reminder of the importance of standing together in the face of aggression and defending the freedoms we hold dear.

“However, it is alarming that the Development Bank of Wales can provide funding to businesses run by convicted criminals who donate to Labour leadership campaigns yet excludes defence companies from receiving the same support.

“The Development Bank of Wales operates under the direction of Welsh Ministers, who determine which sectors should be prioritised for investment. By refusing to invest in Welsh defence companies, the Welsh Labour Government is not only undermining our own defence industry but also limiting the vital support we could be providing to Ukraine and to our own national security.”

 

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