Report: Britain to boost defence spending due to threat from Russia

Prime Minister Rishi Sunak has announced that Britain will spend 2.5 percent of GDP on defence by 2030.

As part of efforts to increase defence spending, the British defence industry is also to recieve investment to increase the pace of production of critical equipment.

Sunak reportedly told reporters on a flight to Poland:

“My first priority is to keep people safe, and you’re right, I have been honest with people that the world is less safe than it has been in decades and my job is to invest to keep the country safe, and that’s what I’m doing. We’re stepping up because that is what the situation demands and requires.”

NATO estimates that for 2023 the UK’s defence spending was 2.07% of its GDP (the total value of everything that happens within the country’s economy). The UK spent £52.8 billion on defence in the 2022/23 financial year. In 2022, NATO estimated that the UK spent 2.16% of GDP on defence.

“In a world that is the most dangerous it has been since the end of the cold war, we cannot be complacent. As our adversaries align, we must do more to defend our country, our interests, and our values,” Sunak said.

“Today is a turning point for European security and a landmark moment in the defence of the United Kingdom. It is a generational investment in British security and British prosperity, which makes us safer at home and stronger abroad.”