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GBP11bn More For Defence Over 5 Years; 2.5% Of GDP For Defence ASAP

UK

After a lengthy passage talking up the policies of Conservative gov'ts over the past 13 years, Chancellor of the Exchequer Jeremy Hunt moves on to military funding: "I am proud we are giving the brave people of Ukraine more military support than anyone else in Europe. On Monday we were able to go further with the Prime Minister announcing a £5bn package of funding for the Ministry of Defence, an additional £2bn next year and £3bn the year after."

  • Hunt: "I confirm that we will add a total of £11 bn to our defence budget over the next five years and it will be nearly 2.25% of GDP by 2025. We were the first large European country to commit to 2% of GDP for defence and will raise that to 2.5% as soon as fiscal and economic circumstances allow."
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