Defence: Finance

(asked on 14th July 2015) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to paragraph 1.82 of the Summer Budget 2015, which Government departments will be allocated the funding for increased spending on military and intelligence agencies.


Answered by
Greg Hands Portrait
Greg Hands
Minister of State (Department for Business and Trade)
This question was answered on 20th July 2015

At Summer Budget 15, the Chancellor announced:

  • the Ministry of Defence budget will rise by 0.5 per cent a year in real terms;

  • an additional £1.5 billion a year by the end of the Parliament will be available to the military and intelligence agencies;

  • additional funding is conditional on the armed services and agencies producing further efficiencies within their existing budgets to ensure continued investment in the most important capabilities; and

  • the NATO target to spend 2 per cent a year on defence will be met throughout this Parliament.

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