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Def Min Hints At Protection Of MoD Budget In Autumn Statement

UK

Recently re-appointed Secretary of State for Defence Ben Wallace giving evidence to the House of Commons Defence Select Committee. Says that 'We'll find out how fixed the new PM and chancellor are on the 3% of GDP target for defence spending by 2030 at the Autumn statement later this month'.

  • Wallace may not be able to pre-empt Chancellor of the Exchequer Jeremy Hunt's statement, but the long-term defence spending commitment was seen as crucial to ensuring Wallace's accepting the defence minister's office under PM Rishi Sunak.
  • Wallace: 'We are seeking a budget that at least protects the department from inflation'.
  • Wallace: 'I'm confident that the argument has been made that defence needs to come up the priority of investment'.
  • Should Wallace's hints on the Ministry of Defence not being subject to cuts, and indeed potentially receiving further spending increases, this could indicate greater tax hikes or spending cuts elsewhere to get the public finances under control in the 17 Nov autumn statement.
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