Britain will enhance defence spending by greater than 1 billion kilos ($1.21 billion) to keep away from a real-terms minimize over the subsequent two years, the Telegraph newspaper reported on Saturday.
Finance minister Jeremy Hunt is anticipated to announce the rise in his price range within the spring, it mentioned.
The newspaper mentioned army specialists estimate that the Ministry of Defence price range in 2024/25 should rise to 50.1 billion kilos from 48.6 billion to keep away from a real-terms minimize as inflation stays above 10%.
Hunt, in his autumn price range final month, mentioned the federal government recognised the necessity to enhance defence spending and confirmed it might keep the price range at not less than 2% of gross home product in keeping with its dedication to transatlantic alliance NATO.
“We have one of the largest defence budgets in Europe and in 2020 we announced the biggest increase to defence spending since the Cold War,” a authorities spokesperson advised Reuters.
Any will increase to defence spending might be thought of as a part of the subsequent built-in evaluation, a doc laying out Britain’s defence, safety and overseas coverage priorities, within the spring, the spokesperson added.
