The Joint Committee on the National Security Strategy (JCNSS)
welcomes written evidence for its new inquiry into The UK’s
economic security.
The Government’s Integrated Review Refresh (IRR23), published in
March 2023, committed to developing “more robust measures to
bolster the UK’s economic security”, addressing “vulnerabilities
that have been exposed in the UK and many countries by the events
of the last two years”. Relevant measures were laid out under the
“resilience” pillar of IRR23, including the Government’s work on
critical minerals, supply chains, export controls, economic
deterrence and economic crime, along with the prioritisation of
“strategic advantage” in science and technology.
IRR23 also noted that a “more positive consequence of the
acceleration of systemic competition” is a “renewed purpose and
cooperation among the UK’s core network of allies and partners”.
The Government has subsequently established international
agreements with the US and Japan: the Atlantic Declaration and
the Hiroshima Accord. Both fall far short of a trade deal, but
seek to enable deeper cooperation on economic security. Pillar 2
of AUKUS – a defence and security partnership between Australia,
the United Kingdom and the United States – also allows for
strengthened cooperation on security- and defence-related
science, technology, industrial bases and supply chains.
The inquiry aims to determine what the main risks and
vulnerabilities are to the UK’s economic security and will
scrutinise whether the Government has the necessary powers and
capabilities in place to intervene in the economy on national
security grounds, and to enforce economic deterrence measures and
enhance economic resilience.
Call for evidence
The Joint Committee on the National Security Strategy (JCNSS)
welcomes written evidence for its inquiry into ‘The UK’s economic
security’. Evidence is invited on the following topics by 5
January at 5.00pm.
- How best to define ‘economic security’, and the extent to
which an overarching policy framework is possible (or desirable);
- The main risks to the UK’s economic security over the short,
medium and long term, from which sources or vulnerabilities they
arise (and in which sectors), and the capabilities that might be
required in order to address or counter them effectively;
- The effectiveness of the Government’s overall approach to
economic security, including key policy frameworks, governance
and resourcing;
- The role and effectiveness of the National Security Council
(and its sub-committee on Economic Security), National Security
Adviser and national security machinery in providing leadership
on this policy area, drawing in external expertise, and ensuring
coherence across Government of the UK’s response to economic
security risks;
- The effectiveness of existing measures for intervening in the
economy on national security grounds, such as the National
Security and Investment Act, and the extent to which they strike
the right balance between security and prosperity objectives;
- The effectiveness of the Government’s approach to economic
deterrence, how it contributes to the UK’s economic security, and
any reforms that might be required; and
- The opportunities and risks offered by international
cooperation in ensuring the UK’s economic security, both
bilateral (the recent Atlantic Declaration and the Hiroshima
Accord) and multilateral (e.g. the G7 and the EU), and any
potential obstacles to implementing them effectively.
Submissions may address any one of these issues, and do not need
to cover the entire remit of the Committee’s inquiry.
Further information
