US EditionRachel Reeves to announce extra £2.2billion defence spending in Spring Statement
- The UK Government is set to announce an extra £2.2 billion in defence spending, as it aims to raise defence spending to 2.5% of the UK's economic output by 2027.
- Defence Secretary John Healey stated that national security is 'the bedrock of a successful economy.'
- Chancellor Rachel Reeves will emphasize the need for the UK to 'move quickly in a changing world' regarding defence commitments.
- This increase adds to £2.9 billion previously announced, totaling an additional £5 billion for the Armed Forces next financial year.
52 Articles
52 Articles
Labour Pledges to Fix UK’s ‘Broken’ Defense Process for Startups
A Labour government pledge to devote at least 10% of its defense budget to new technologies, like drones and artificial intelligence systems, could jump start an industry that risks falling behind European peers.
Labour slashes public spending, hands over billions to military in UK Spring Statement
Reeves’ was the most pro-war speech made by any UK politician since World War Two, as she pledged that the Treasury’s coffers would be emptied to “boost Britain’s defence industry and to make the UK a defence industrial superpower”.
UK slashes near-term growth forecast but lifts military spending plans
LONDON (AP) — The British economy will only grow by 1pc this year, half the rate previously anticipated, Treasury chief Rachel Reeves conceded Wednesday in a statement to lawmakers about the state of the public finances. Against the backdrop of sluggish economic growth that she blamed on a volatile international environment but which critics say she is largely responsible for, Reeves unveiled measures intended to meet her self-imposed budget rul…
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