§ 19. Mr. Pikeasked the Secretary of State for Defence what has been the effect of recent exchange rate flutuations on the estimated cost of Trident for the current financial year.
§ Mr. Norman LamontThe estimate of the cost of Trident is £9.285 million at average 1984–85 prices and at 776 an exchange rate of £1 to $1.38. As my right hon. Friend the Minister of State for the Armed Forces has just said, a revised costing for Trident will be announced shortly.
§ Mr. PikeWill the Minister recognise that the majority of people in the country believe that Trident creates a greater threat of our being attacked by nuclear weapons, and that the unpredictability of the exchange rate is a threat to the Government being able to provide adequate conventional defence forces for the country?
§ Mr. LamontThe vast majority of the people believe overwhelmingly that Britain ought to retain its own national independent deterrent. That has been shown in election after election. The hon. Gentleman cannot talk, since the Labour party has indicated that it would not increase spending on conventional forces.
§ Mr. MarlowIn the hopefully unlikely event of the Warsaw pact unleashing its military machine westwards towards the Channel, would we be able to stop it by conventional forces alone?
§ Mr. LamontMy hon. Friend is absolutely right. No amount of spending on conventional weapons could possibly purchase an equivalent amount of deterrence.