The Centre for Economic Security

This briefing summarises the outcomes of the Future of Security Conference, hosted at King’s College London in partnership with the Economic Conflict and Competition Research Group (ECCRG) and the Centre for Economic Security (CES). The event was convened in response to growing concerns around the UK and NATO about economic security and the usefulness of current frameworks, including NATO’s Articles 2 and 3, for addressing some of these concerns. The event brought together groups that do not often meet from government, financial services (especially trade finance), the defence industrial base and fintechs. The goal was to create a shared vision across these stakeholders of what an economic security manifesto would look like.

This summary sets out the strategic context as articulated by the participants, one that sees the UK and its allies engaged in an undeclared economic war. In such context, Ministers should note that it was felt strongly that conventional economic orthodoxy will not deliver the required economic security necessary to underpin prosperity and growth. The proposals in the document are from the senior delegates who attended the two days. The Centre for Economic Security is committed to convening such conversations and working to integrate the shared economic security interests of finance, business and government by helping to implement the vital manifesto that delegates gave us at the Future of Security event.

Day One (23 July 2025) convened senior figures from defence, finance, industry, government, and academia, with a strong focus on the role of SMEs, banks, and institutional investors. Workshops and discussions explored how economic security could be strengthened through reform of finance, supply chains, and innovation ecosystems. Special attention was given to the barriers faced by SMEs, the reluctance of banks to support defence, and the need for new instruments to mobilise private capital.

Day Two (24 July 2025) brought together a strategic and policy-level audience, including senior MoD officials, financiers, academics, and business leaders. The sessions tested policy options against the wider backdrop of the UK’s Trade Strategy, Strategic Defence Review (SDR) 2025, and the Modern Industrial Strategy. Discussions shifted from identifying problems to formulating prescriptions: embedding whole-of-society mobilisation, reframing ESG to include security, and considering institutional reforms such as a “Ministry of Economic Warfare.”

Across both days, the message was consistent: the UK must acknowledge that it is already engaged in an economic war and move from analysis to execution. Delayed action would guarantee a reactive, fragmented response. The purpose of this briefing is to capture the conference’s conclusions and outline a policy framework that ministers can use to integrate economic security with trade, defence, and industrial policy.