Defence: 2.5% GDP Spending Commitment
Debate between Lord Bridges of Headley and Lord Coaker(1 week, 4 days ago)
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Lord Coaker (Lab)
The noble Lord makes a very important point. I was in the Republic of Korea recently to talk about the importance of hybrid warfare and information wars. We must consider that fully when we get the defence review and ensure that our hybrid capability is a match for anybody’s. That involves trying to influence others opposing us at the present time.
Lord Bridges of Headley (Con)
My Lords, according to the OBR, if the Government were to meet their ambition to increase defence spending to 2.5% of GDP by the end of the Parliament, they would break their new debt rule. Which is more important: the 2.5% target or the debt rule?
Lord Coaker (Lab)
I am not a Treasury Minister, but I know as a Defence Minister that 2.5% of GDP is an absolute commitment. I hope the Treasury is successful, because if we get the growth in the economy that we want, that 2.5% will be of a much larger amount.