Defence: 2.5% GDP Spending Commitment

Lord Craig of Radley Excerpts

Thursday 14th November 2024 Lords Chamber

[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.

[Lord Craig of Radley (CB)]

My Lords, the defence review is due to report early in the new year. If that is the case, it will report before the figures on the years affected by the 2.5% increase are announced. Does that not make the whole defence review unbelievable, because it will not have the figures to hand?

[Lord Coaker (Lab)]

I thank the noble and gallant Lord for his question. As I suggested in an earlier answer, the sequencing of all of this is extremely important. Of course, we need the defence review, which is taking place within the context of the 2.5% budget figure that the Treasury has set. As I said, we will make an announcement about the pathway to that and how we intend to reach that point at a future fiscal event in the spring. The noble and gallant Lord is right to point out the importance of sequencing.