Prime Minister Rishi Sunak Announces Increase in Defence Spending
Prime Minister Rishi Sunak has unveiled a significant increase in defence spending, aiming to reach 2.5 per cent of GDP by 2030. This move is described as the most substantial reinforcement of national defence in a generation.
Key Points of the Announcement:
- The UK’s defence spending will rise to 2.5 per cent of GDP by 2030.
- This increase positions the UK as the fifth-highest spender in NATO based on GDP proportion.
- An additional £500 million will be provided to Kyiv, along with overall defence spending increments.
- The investment will amount to £75 billion over the next six years, with no increase in borrowing.
- R&D funding will increase to a minimum of 5 per cent of the defence budget, with a focus on autonomous drones.
Focus on Defence Innovation and Environmental Impact:
As part of the announcement, a new Defence Innovation Agency will be established to streamline decision-making on defence innovation. Sunak emphasized that defence investments will align with environmental, social, and governance assessments.
Security Concerns and International Relations:
Sunak highlighted the evolving global security landscape, citing countries like Russia, Iran, North Korea, and China as posing significant risks to the UK’s security and prosperity. He emphasized the need to address these challenges collectively.
Response and Criticism:
While some MPs welcomed the boost in defence spending, experts have raised concerns about the feasibility of meeting the 2.5 per cent target by 2030. Labour’s Shadow Defence Secretary emphasized the importance of a fully funded plan for defence.
Upcoming Meetings and Further Discussions:
Sunak is scheduled to meet with German Chancellor Olaf Scholz in Berlin to discuss further cooperation on defence and security matters.
