In a saucepan on a high heat fry the peppers in the first glug of olive oil until just colouring at the edges.
Turn down to medium heat and add the second glug of olive oil, the onions with a good pinch of salt and a good twist of black pepper, cover and sweat until the onions are soft.
Add the garlic and cook for 5 minutes more.
Add the rice and cook for a further 5 minutes stirring frequently.
Add the wine, stir again and cook for 5 minutes more, continuing to stir frequently.
Next, add the tomatoes and cook for another 5 minutes.
Heat the stock in a separate pot while the onions are cooking.
Now start adding the hot stock one ladle at a time, allowing nearly all the stock to be absorbed between each ladle.
Add the basil with the last ladle of stock.
An optional knob of cold butter and a handful of freshly grated Parmesan cheese can also be added at this point to make it more unctuous.
Check the seasoning and serve.