I agree with my hon. Friend. One of the intended consequences of our misguided intervention in Iraq was that we fundamentally altered the balance of power in the region, and we have been playing catch-up ever since.
There are significant benefits to strong defence. As no one can predict with any certainty from where the next substantial threat will emerge, we require armed forces of sufficient capability and capacity to respond to any challenge. The straits of Hormuz or the South China sea may seem a long way away, but we would soon realise their importance should sea lanes become closed, given the fact that the majority of our goods and trade arrive by sea. Argentina is looking to buy sophisticated fighter jets, and that reminds us that our capacity must include the ability to act independently, if necessary.
The heft of a strong military underpins a successful foreign policy. By contrast, a shrinking defence budget threatens our ability to lead global opinion, reduces our foreign policy options and, crucially, sends the wrong message both to our allies and to potential adversaries. It is doubtful that President Putin would operate as he is now if he thought that NATO, especially the European NATO members, would robustly stand up to him. [Interruption.] That is very kind.