Defence: Finance

(asked on 21st May 2024) - View Source

Question to the HM Treasury:

To ask His Majesty's Government whether their commitment to spend 2.5 per cent of gross domestic product on defence by 2030 has been incorporated into the Treasury’s baseline budgets.


This question was answered on 24th May 2024

The Prime Minister recently set out our pledge: to increase defence spending to 2.5% of GDP by 2030. That increase starts immediately, rising each year, and will see defence spending rise to £87 billion a year by 2030/31. This is the biggest strengthening of our defence since the Cold War.

The commitment will be fully funded, with no increases in borrowing or debt.

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