Prime Minister Rishi Sunak said on Tuesday he would lift defence spending to 2.5% of GDP a year by 2030, saying the British arms industry must be on a “war footing” when the world is at its most dangerous since the Cold War.
Standing alongside NATO leader Jens Stoltenberg, Sunak said Britain would spend an additional 75 billion pounds ($93 billion)over six years to increase the production of munitions and drones, making Britain the second-largest defence spender in NATO.
He said one of the central lessons of war in Ukraine was that countries needed deeper stockpiles of munitions, and the ability to replenish them more quickly.
“In a world that is the most dangerous it has been since the end of the Cold War, we cannot be complacent,” he said. “As our adversaries align, we must do more to defend our country, our interests, and our values.”
Sunak has been under pressure from his governing Conservative Party to boost defence spending more quickly after previously saying he could do so only “as soon as economic conditions allow.”
The rise, from around 2.32% of gross domestic product, could also weaken potential leadership challengers who have championed defence, before an election this year which Sunak’s party is expected to lose.
The commitment would take defence spending for 2028/29 from approximately 73.8 billion pounds to 78.2 billion pounds, partly funded by a previously announced plan to cut the size of the civil service.
The opposition Labour Party said earlier this month it would aim to hit the 2.5% target “as soon as resources allow”.
Sunak’s commitment could help Britain if Donald Trump wins re-election to the U.S. Presidency this year. Trump has frequently taken aim at the failure of many of NATO’s 32 members to spend at least 2% of gross domestic product on defence.
(Reuters)