Philip Hammond

It is not whether an independent Scotland could go it alone and develop its own defence forces - of course it could - but what sort of forces would they be?

Britain is one of the world's most open economies. More dependent on trade than any other major country. Our success depends on our competitiveness and our competitiveness depends on raising our productivity, as our competitors are raising theirs.

Let me be absolutely clear: I think it is defeatist to sort of say we want to leave the European Union. We're going to try and change the rules and change the way it works and change the objectives that it has in order to make it something that works for Britain.

We will build in Britain a cyber strike capability so we can strike back in cyber space against enemies who attack us, putting cyber alongside land, sea, air and space as a mainstream military activity.

Talking to the Taliban is a process the Afghans have to manage. It is their country.

Scotland forms a crucial part of our Armed Forces which should not be jeopardised by rushed cuts or a rush to the exit from the U.K. Defence jobs are vital to the Scottish economy and yet independence puts thousands of jobs at risk.

When ministers in this government talk about investing in education and skills, about making the planning system work; about employment law reform and delivering transport and power generation and broadband communication infrastructure, we are talking about raising Britain's productivity.

To those who say Britain cannot afford to invest in infrastructure, I say we cannot afford not to invest in our future.

Disruption to the flow of oil through the Straits of Hormuz would threaten regional and global economic growth. Any attempt by Iran to close the Straits would be illegal and unsuccessful.