The Chancellor announced two increases in defence budgets for the coming years of this Parliament. First, there was the 0.5% real-terms increase each year and secondly the opportunity to bid into a new joint security fund, alongside security agencies, that would reach £1.5 billion in 2019-20.
[Official Report, 23 October 2015, Vol. 600, c. 1322.]
An error has been identified in the response I gave to the debate on Second Reading of the Defence Expenditure (NATO Target) Bill on 23 October 2015.
The correct response should have been:
The Chancellor announced two increases in defence budgets for the coming years of this Parliament. First, there was the 0.5% real-terms increase each year and secondly the opportunity to bid into a new joint security fund, alongside security agencies, that would reach £1.5 billion in 2020-21.