11th Report - Toward a new doctrine for economic security

Key findings

• The UK lacks a consolidated threat assessment; economic security appears across five separate Government documents, creating fragmented policymaking and unclear guidance for industry.
• The Committee identifies ten core threat categories: transnational risks, market competition disruption, state coercion, supply chain vulnerabilities, critical minerals scarcity, CNI exposure, cyber/emerging technology, illicit finance, foreign investment in critical sectors, and IP theft.
• A principles-based approach (the 'Six Ds': Diagnose, Develop, Diversify, Defend, Deter, Dovetail) is preferable to a fixed definition; this mirrors the CONTEST counter-terrorism framework and allows flexibility as threats evolve.
• Effective economic security requires a 'whole-of-society' approach led by coherent whole-of-government coordination; business and Parliament must be fully engaged in threat diagnosis, capability development, and accountability.
• The Committee recommends an Economic Security Bill, dedicated Economic Security Minister, new Office for Economic Security, re-establishment of Economic Security Sub-Committee on the National Security Council, and reformed information-sharing with Parliament.

Recommendations

• Adopt and publicly set out the strategic principles of a new economic security doctrine based on the 'Six Ds': Diagnose, Develop, Diversify, Defend, Deter, and Dovetail.
• Enshrine key recommendations in an Economic Security Bill to provide long-term certainty and parliamentary scrutiny beyond the life of one Parliament.
• Establish a coherent whole-of-government approach before attempting whole-of-society engagement; ensure the Department for Business and Trade Secretary is a full National Security Council member.
• Create an integrated threat assessment mechanism involving private sector participation; establish a shared intelligence framework across government departments and industry.
• Appoint a dedicated Economic Security Minister and establish an Office for Economic Security to coordinate policy, intelligence, and inter-departmental action.
• Re-establish the Economic Security Sub-Committee of the National Security Council and implement reformed information-sharing protocols with Parliament to ensure accountability.
• Develop sovereign capabilities in critical industries identified in the Industrial Strategy; prioritise supply chain diversification away from single-source dependencies.
• Strengthen cyber security defences; reform software developer liability frameworks and address the cost of cybersecurity software for SMEs in critical supply chains.
• Enhance export control and sanctions enforcement mechanisms; resource compliance and investigation functions adequately to deter economic coercion.
• Align UK economic security policy with allies (US, EU, Japan); harmonise investment screening, supply chain resilience measures, and counter-coercion approaches.

Key actors

Liam Byrne, Pat McFadden, Lord Robertson, Lord Coaker, Royal United Services Institute (RUSI), techUK, Chatham House, RAND Europe