UK announces 2.5% GDP spending on defence, biggest strengthening for a generation
The Prime Minister has announced that the UK will spend 2.5% of gross domestic product (GDP) on defence by 2030.
Rishi Sunak pledged that an extra £75bn would be spent on defence as a continuation of a commitment made by the Conservative Party under former PM Boris Johnson.
Mr Sunak said: "In a world that is the most dangerous it has been since the end of the Cold War, we cannot be complacent.
"As our adversaries align, we must do more to defend our country, our interests, and our values," said Mr Sunak.
"That is why today I am announcing the biggest strengthening of our national defence for a generation.
"We will increase defence spending to a new baseline of 2.5% of GDP by 2030 – a plan that delivers an additional £75bn for defence by the end of the decade and secures our place as by far the largest defence power in Europe."
Mr Sunak, who set out the plan during his visit to Warsaw, Poland, alongside Chancellor Jeremy Hunt and Defence Secretary Grant Shapps, went on: "Today is a turning point for European security and a landmark moment in the defence of the United Kingdom.
"It is a generational investment in British security and British prosperity, which makes us safer at home and stronger abroad."
Despite the commitment, some in the Conservative party have called for GDP to be increased to 3%, including Defence Secretary Grant Shapps.
Following the announcement, shadow defence secretary John Healey said: "As Keir Starmer recently set out, Labour wants to see a fully funded plan to reach 2.5%, but the Tories have shown time and time again that they cannot be trusted on defence and we will examine the detail of their announcement closely.
"The British public will judge ministers by what they do not what they say. Since 2010, the Conservatives have wasted more than £15bn mismanaging defence procurement, shrunk the Army to its smallest size since Napoleon, missed their recruitment targets every year, and allowed morale to fall to record lows."
Under the new spending plan, the UK defence budget will increase immediately and then rise steadily to reach £87bn at the end of the decade.
The UK has also pledged to spend a record £500m on Ukrainian aid, taking the amount spent this financial year up to £3bn.
Chancellor Jeremy Hunt said: "It speaks to Britain's global role that, with an improving economy, we are able to make this commitment to peace and security in Europe.
"It also sends the clearest possible message to Putin that as other Nato European countries match this commitment, which they will, he will never be able to outspend countries that believe in freedom and democracy."
Defence Secretary Grant Shapps said: "As I argued in my Lancaster House speech earlier this year, we are living in a much more dangerous world.
"Between Russia's invasion of Ukraine, Iran and its proxies seeking to escalate deadly conflict, and China flexing its muscles, there can be no doubt that the era of the peace dividend is clearly over.
"The mounting threats we face mean we must invest in defence if we are to continue to defend our values, freedoms and prosperity.
"Today's announcement marks the single greatest strengthening of our defence since the Cold War, which will support jobs, boost growth, and strengthen our incredible Armed Forces as a modern fighting force."
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