Displaying items by tag: ministry of defence, budgets, nato, united kingdom

Rishi Sunak has committed to increasing UK military spending to 2.5% of GDP by 2030, to address threats from what he calls 'an axis of authoritarian states’. During a visit to Poland, he highlighted the challenging international environment reminiscent of the Cold War era, necessitating this boost in the defence budget. Sunak said that this investment, which will bolster the military industry, does not signal an imminent war but prepares the nation for potential threats. The increased funding will support existing MoD projects, including new frigates, a fighter jet, and nuclear weapons system modernisation, despite the financial strains these expensive programmes have placed on current resources. The commitment aims to set a new benchmark for NATO members, surpassing the decade-old target of 2% GDP for defence spending. This spending strategy is framed as a priority re-allocation within the government budget.