In response to heightened global security concerns, Britain has pledged to increase its defense spending to 2.5% of GDP by 2030. This move will result in billions of additional pounds being allocated to the defense budget, bringing the total to an estimated £87 billion by the end of the decade. Prime Minister Rishi Sunak announced the plans, emphasizing the need to strengthen national defenses against threats posed by authoritarian states. The decision has been welcomed by former defense ministers, including James Heappey, who described it as ‘hugely needed.’
The announcement comes amidst growing calls for increased defense spending from various political figures, including former defense secretary Ben Wallace. Wallace has advocated for a more ambitious target of 3% of GDP, citing the dangers facing the country. Current defense secretary Grant Shapps has also expressed support for reaching the 3% target.
Sunak’s announcement builds on previous warnings about the heightened volatility and danger facing the world since the Cold War era. He emphasized the importance of European allies investing in their own security, while also putting the UK’s defense industry on a ‘war footing.’ Despite the increased spending commitment, Sunak has pledged to achieve it without any increases in borrowing or debt.
The move towards the 2.5% target aligns with the 2014 agreement among NATO heads of state to commit at least 2% of GDP to defense spending. However, some critics have raised concerns about the feasibility of the plan, particularly in light of post-election spending cuts planned to fund previous tax cuts. Economist Torsten Bell has questioned the ability to deliver on both spending commitments simultaneously.
Responding to the announcement, shadow defense secretary John Healey expressed skepticism about the Conservative government’s trustworthiness on defense matters. He emphasized that the public would judge ministers based on their actions rather than their statements. The Labour party has pledged to conduct a strategic review of defense and security within the first year of government to assess threats and resource requirements.
