As national defence spending emerges as an election issue in the UK, amid pledges and counter-pledges from our political combatants, perhaps it’s time to revive wartime financing solutions to cover the additional — and as yet unfunded — costs (“PM’s defence pledge raises cuts alarm”, Report, April 25; and “Emmanuel Macron to revive demands for European defence bonds”, Report, FT.com, March 21).
Defence bonds, following the recent National Savings and Investments model where attractive interest rates are offered until a target amount of new funding is achieved, would ease the burden on taxpayers and help protect other public services.
Bonds would also offer an opportunity for those who wish to reinforce their demands for greater defence spending with the material means to do so, including perhaps some visible means to demonstrate their patriotism.
Gavin Greenwood
Brighton, East Sussex, UK
